12 risks of Xmas | no. 10

Anastasia Filatova
13 December 2019
1 minute read

Business risk: payment frauds

On the 10th day of Christmas... your employees were scammed

As it is with office theft, data breaches are on the high during the holiday season, with cyber criminals relying on the limited staff resources and a rather stretched attention span of those who hold the fort all the while their colleagues are away. We saw Cyber Monday acquire a new meaning, with malicious attacks accelerating in numbers and it becomes even more so for Christmas

What's at risk?

It's all about data. Cyber criminals are after your company’s confidential information, including your personal and your customers' data. This, of course, includes credit card information. Phishing emails are set to trick you into sharing that information, or paying for non-existent services, while suspicious downloads are designed to rob your device with very little help. During the holiday season, it’s easy to get lost in transactions, letting a precarious payment slip through.

How to avoid it?

Though the tech team is responsible for installing rules and policies in place, they cannot oversee every employee's behaviour. This is exactly why every person in the business has to be trained accordingly in order to stay away from unauthorised emails, unsecured networks, suspicious downloads and compromised websites. Ensure that every employee has enabled dual authentication on every site or service storing important data or payment information. A vital part of cybersecurity is having a solid plan for damage control, in case all the measures taken to prevent an attack have failed in one way or another. As such, investing in the right cyber insurance can put your mind at ease.

Read about the 11th risk of Christmas.

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