Can you afford not to hire us?

The Internet is a crucial part of our lives, from online banking to shopping, socializing, and even work. However, with the convenience of the Internet comes the risk of cyber scams. It's no secret that cyber criminals are becoming more sophisticated in their methods and as a result, more and more people are falling victim to online scams.

Individuals and small to mid-sized businesses are at significant risk of falling victim to these attacks. Identified below are five very common and financially devastating types of cyber scams and crimes that occur every day.

Tech Support Scams

Tech support scams involve cyber criminals posing as representatives of reputable tech companies, such as Microsoft™ or Apple™ to deceive victims into providing access to their computers or personal information. The scammers may claim that the victim's computer is infected with a virus or requires immediate assistance.

In 2021, a woman from Florida lost $5,000 in a tech support scam after she was tricked into believing there was an alert involving her computer. 

Identity Theft

Identity theft occurs when cyber criminals obtain personal information, such as Social Security numbers or bank account details to commit fraud or other crimes.

In 2018, a woman discovered someone had stolen her husband’s phone number. The perpetrator was able to access and download all of his emails, enabling the attacker to uncover copies of their driver’s licenses and other personal information which the attacker then used to obtain loans and incur debt in their names.

Ransomware

Ransomware is a type of malicious software that encrypts the victim's files and demands a ransom for their release. The hackers often threaten to delete or leak the files if their demands are not met.

In 2023, the Gateway Casinos suffered a ransomware attack that knocked out computer servers and closed 14 casinos for weeks. "It's as bad as it gets. And unfortunately, the damage is going to take years to undo, even if they are able to undo it…You don't just flip a switch and come back on."

Business Email Compromise

Business Email Compromise (BEC) scams involve cyber criminals impersonating executives or employees of a company to trick employees into transferring money to fraudulent accounts.

In 2019, a US-based company, Scoular Co., lost $17.2 million in a BEC attack after an employee transferred funds to a foreign account, believing it was a legitimate request from a company executive. 

Phishing Attacks

Phishing attacks use deceptive emails, text messages, or websites to trick individuals into providing sensitive information, such as login credentials or financial data.

In 2020, a public school district in Texas fell victim to a phishing scam that resulted in a loss of $2.3 million.

These real life examples illustrate the severity of cyber threats facing individuals and businesses every day. Investing in cyber security services can help protect your valuable data and assets, potentially saving you from costly damages and reputation loss.

So . . . can you really afford not to hire us?