TechOnsite’s Team Productivity Tools, BEC and Wire Fraud Protection

Business Email Compromise | Wire Fraud Prevention | TechOnsite's Favorite Tools | Newsletter Blog

Check out the go-to online tools that our TechOnsite crew swears by! Everything from productivity tricks to must-have collaborations apps—these are the things that make work a lot more fun. 

Lightshot

Lightshot is awesome for snapping screenshots. I can easily annotate, share captured images via link; and even download them to a file. It’s super convenient and saves loads of my time! – J

QuickLook

QuickLook is totally a game-changer! Just hit the space bar, and you get a sneak peek of your files without fully opening them. No more clicking around and waiting for apps to boot up. – JIMMY

PuTTY

PuTTY’s like my trusty sidekick for all my remote and network management needs. Super lightweight, easy to use and gets the job done. Be it SSH-ing into a server or fixing network stuff, PuTTY’s got my back—no fuss, no hassle. – TERRY

NVIDIA

A one-stop shop to record training sessions, overclock my system with a single click, enable video filters for a more enjoyable gaming experience, track system performance statistics in real-time, and record highlights and funny moments with friends. – DANIEL

Powertoys

Microsoft PowerToys is my go-to hack for productivity and workflow improvement, offering additional features and customizations that elevate Windows to new heights, making it ideal for power users. – JAMES

Copilot

It’s like having a super-smart buddy who’s always ready to jump in with quick answers, helpful tips, and creative ideas. Copilot’s very easy to use and makes getting things done a breeze! – MICHELLE

Business Email Compromise (BEC)

Don’t be a victim.

Business Email Compromise (BEC) is a sneaky and harmful cybercrime that exploits trust and daily habits, threatening businesses’ reputation and critical information, not just financial loss prevention.

What is BEC?

BEC or Business Email Compliance is a sophisticated cyberattack where an attacker manipulates email communications to persuade employees to send money or sensitive information, exploiting trust and business relationships.

Common Types of BEC Scams

CEO Fraud

Attackers impersonate CEOs to rush confidential wire transfers or requests for sensitive information.

Account Compromise

Compromises a company's email account to send payment requests to vendors.

Data Theft

Scammers target HR departments, stealing personal information for easier execution.

Attorney Impersonation

Compromises a company's email account to send payment requests to vendors.

Invoice Fraud

Scammers send fake invoices to legitimate vendors, claiming bank audits or misrepresenting account numbers.

Phishing and Spoofing in BEC

Through phishing and spoofing, BEC attacks have been carried out in order to exploit trust and result in serious damage. Being aware of these tactics helps businesses take effective measures of protection.

Phishing

Attackers send emails mimicking trusted sources, deceiving victims into divulging sensitive information or clicking harmful links.

Spoofing

Hackers spoof email IDs to appear legitimate, leading to people following fake instructions.

Business Email Compromise in Action | TechOnsite Newsletter Blog
Business Email Compromise (BEC) can significantly harm a business’s finances and reputation. It involves attackers gathering information about the target, grooming them through phishing emails, and then sending a persuasive email claiming to be from a reputable source. The stolen money or information is wired to the fraudulent person’s account, often offshore, making recovery difficult.

Its Potential Pitfalls in Businesses

Business Email Compromise poses serious financial, reputational, and legal risks. Being ahead of these risks will benefit the company to implement strong protection measures. 

How to Prevent BEC Scams?

Protecting Your Business From Wire Fraud

Wire fraud is a federal offense in the United States, involving the use of electronic communication to defraud individuals or organizations. Common tactics used by wire fraudsters include phishing, business email compromise, lottery and prize scams, romance scams, and investment scams. Scammers send deceiving emails, pretend to be executives or vendors, demand wire transfers, and use spoofing or hacking to trick victims into wire transfers.

Wire fraud is a serious offense with significant penalties for those involved.

Wire Fraud Prevention Measures

Business Email Compromise poses serious financial, reputational, and legal risks. Being ahead of these risks will benefit the company to implement strong protection measures.

Enforce Multi-factor Authentication

MFA is a security measure that requires users to authenticate using at least two combination methods, such as a password and an One Time Password (OTP), via their mobile device.

Keep Updating Your Passwords

Regularly updating strong, unique passwords is crucial to protect against unauthorized access.

Fraud Awareness Training

Regular training sessions should be conducted to educate employees on identifying and avoiding fraudulent activities, keeping them informed about current trends and potential actions to avoid suspicion.

Regular Audits and Reviews

Regular audits and reviews of wire transfer processes ensure compliance with security protocols and identify weaknesses, while periodic revisions are necessary to adapt to fraud tactics and regulatory requirements.

Secure Web Portals

Be sure that wire transfers are initiated through secure online banking Web portals and not via email or fax requests​.

Dual Authorization and Verification Calls

Implement a dual-authorization procedure for wire transfers, requiring two authorized individuals to approve transactions. Verify wire transfers through a known number, not the provided phone number, to prevent fraudulent transfers under solitary control.

Encrypted Communication

Encrypted emails or secure channels are necessary for transmitting sensitive information like wire transfer instructions, preventing hijacking by fraudsters for their own gain.

Simulation of Phishing Attacks

Conduct regular phishing attack simulation exercises to assess employees' preparedness and responsiveness against potential threats and fraudulent activities.

Should you shut down your computer at night? | TechOnsite Newsletter Blog
The decision to switch off your computer depends on how frequent your usage is:

Why would you probably shut your computer down?

Energy Consumption: Leaving the computer turned on wastes energy.
Wear and Tear: It causes unwanted wear and tear on its parts.
Overheating: If left on, your computer runs the risk of overheating.
Maintenance: Keeping your computer powered on may hinder its ability to perform maintenance tasks, including software updates.

However, desktop computers can be left on 24/7 if they are placed in a well-ventilated area with some cooling. Laptops and Ultrabooks, however, should be turned off because their hardware is more susceptible to overheating.

Tidbits | TechOnsite Newsletter Blog

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