Cybersecurity Concerns Regarding Recent Financial Disruptions

//From the desk of Colton Sumners

As you may have heard, there was a recent collapse of banking institutions which has raised concerns about cybersecurity. This has created a window of opportunity for bad actors and cybercriminals to engage in activities that can put you and your organization at risk.

We recommend everyone to keep their head on a swivel and be aware of potential attacks. While distracted by the events, now is a time many could be vulnerable.

Some attack vectors criminals may implement are:

Phishing attacks: Cybercriminals may send targeted fraudulent emails or messages that appear to be from financial institutions, be it SVB, or others. Please be cautious of any unexpected or suspicious emails, and do not click on any links or download any attachments without verifying the sender’s authenticity.

Social engineering attacks: Cybercriminals may try to trick you into revealing sensitive information or performing fraudulent transactions through phone calls, text messages, or other communication channels. Please be wary of any unsolicited requests for information or unusual account activity.

Insider threats: Your organization should have policies and procedures in place to prevent employees or contractors from causing a data breach or other security incident. However, be cautious of any suspicious activity, and understand the protocols on how to respond to them.

Third-party risks: These organizations rely on third-party vendors or service providers for certain functions, such as processing payments or managing customer data. This could be a route to exploit, so we encourage you to monitor vendor activity regularly for anything unusual.

We understand that cybersecurity concerns can be alarming, but we believe it is important to use extra caution during this time to protect your company’s data. If you have any questions or concerns about the risk and everchanging threat landscape, please do not hesitate to contact us.

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