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Criminals increasingly spoof credit unions
With the financial sector being the most targeted industry among cyberattacks, Credit unions are increasingly becoming more of a target for cybercriminals. Last year alone, Zscaler, a cloud security company, witnessed 57 Million phishing attempts within the financial industry alone.
Although anyone and any company are vulnerable to cyber-attacks, credit unions are particularly vulnerable due to a lack of security, with a report from Avanan stating that 66% of them do not have proper email security to protect against phishing.
Cybercriminals are using a variety of tactics and lures to trick people into handing over cash or sensitive information. With the main attack vector being a phishing email. The email can have a variety of content such as a notification of a new payment, a password reset, or a document being sent over.
The lures used are made to incite urgency, once a user clicks a link, they are taken to a fake log-in page. If the target enters their details into this login page, the attacker will have everything they need to compromise that person’s account. To the user, the website they just logged in to just seems unresponsive.
The most effective way to ensure your business is protected from phishing emails is with a combination of email security tools to minimise the number of phishing emails reaching your and your teams’ inboxes. And because no email security tool is perfect, you should also employ User training, to ensure that when a phishing email does get through, your team knows how to react.
Cyber Wise provides short training videos monthly to your team’s needs along with simulated phishing emails to test their knowledge on spotting the telltale signs of malicious emails and how to handle them when spotted.