Misfortune of any kind is a breeding ground for an enterprising cyber-criminals’ schemes, as opportunities abound for attackers to take advantage of confusion and chaos for their own financial gain. As the Payroll Protection Program (PPP) relief fund continues to provide hundreds of billions of dollars in much needed loans to small businesses hit by the devastating impact of COVID-19, cyber criminals have become more active than ever, using the program as bait for their latest spear phishing campaigns. Spear phishing activity is up over 600% since the beginning of the year, meaning that the next email purporting to provide PPP guidance during the COVID-19 pandemic may be concealing a virus of a different kind. Whether it involves socially engineering recipients into visiting fraudulent PPP websites or opening malware-infected attachments, criminals are accelerating their spear phishing attacks to steal as much information and money as they possibly can.
To help avoid becoming the next victim of a spear phishing attack, here are some best practices that organizations should consider:
Citrin Cooperman’s Technology Risk, Advisory & Cybersecurity (TRAC) Practice's cybersecurity team can help you remain safe from spear phishing attacks. Whether it is developing a customized on-demand cybersecurity awareness training or conducting a spear phishing simulation, our team of security experts can help your clients socially distance themselves from cyber-criminals and their attacks.
Contact us to learn more: