Phishing scams are becoming increasingly sophisticated, exploiting new methods to trick users into giving away sensitive information. Microsoft recently flagged a troubling new scam targeting businesses through trusted cloud platforms like SharePoint and OneDrive. In this blog, we’ll explore what the latest phishing scams are, how they work, and the steps you can take to protect your organisation.
What Are the Latest Phishing Scams?
One of the most alarming phishing tactics in 2024 targets widely used platforms like SharePoint and OneDrive. These scams exploit the trust businesses place in cloud services, bypassing traditional security measures. Here’s how the scam works:
- Stealing Credentials: Cybercriminals gain access to your accounts by stealing login details through phishing emails or purchasing them on illicit marketplaces.
- Uploading Fake Files: Once they’re in, scammers upload malicious files designed to look legitimate, such as a fake Microsoft 365 login page.
- Tricking Employees: The files are often set to “view-only” or restricted access, making them appear even more credible. Employees are lured into opening these files and clicking on links, believing them to be safe.
- Data Theft or Malware Infection: Clicking the links can result in stolen credentials or malware infections, leading to serious data breaches.
These scams are dangerous because they mimic the tools and workflows your team uses daily, making them harder to spot.
Why Are These Scams So Dangerous?
Phishing scams have always been a threat, but this latest wave poses unique risks:
- Trust Exploitation: By targeting platforms like SharePoint and OneDrive, scammers use trusted services to lower your guard.
- Customised Attacks: These scams often target specific businesses, tailoring emails and files to look highly authentic.
- High Stakes: Falling for these scams can lead to data breaches, financial losses, and reputational damage.
Recovering from a phishing attack is costly and time-consuming. In some cases, businesses also face legal repercussions for failing to protect sensitive customer data.
How to Protect Your Business from Phishing Scams
Asking What Are the Latest Phishing Scams is only the first step. You need a proactive approach to safeguard your business. Here are the most effective strategies:
1. Educate Your Team
Awareness is key. Train your employees to recognise phishing attempts and remain cautious when dealing with shared files or unexpected emails.
- Encourage them to verify email senders by checking addresses carefully.
- Teach them to contact the sender directly if anything seems suspicious.
- Warn them against clicking links or downloading attachments from unknown sources.
2. Enable Multi-Factor Authentication (MFA)
MFA adds a critical layer of security by requiring users to verify their identity with an additional method, such as a code sent to their phone. Even if login credentials are stolen, MFA makes it much harder for scammers to access accounts.
3. Strengthen Cloud Security
Adjust your cloud platform’s settings to minimise risks:
- Restrict sharing permissions to team members only.
- Regularly audit who has access to files and folders.
- Use secure file-sharing methods instead of email attachments.
4. Keep Security Software Updated
Ensure your antivirus software, firewalls, and other security tools are always up to date. Modern security software is designed to detect and block the latest phishing attempts and malware.
5. Use Proactive Monitoring
Continuous monitoring of your systems can identify unusual activity before it becomes a serious threat. Partnering with a managed IT provider (like us) ensures your business has round-the-clock protection.
What to Do If You’re Targeted by a Phishing Scam
If you suspect your business has been targeted, act quickly:
- Disconnect the Device: Immediately disconnect the infected device from the internet to prevent the malware from spreading.
- Close Suspicious Files: Avoid interacting with suspicious files or links.
- Report the Incident: Notify your IT team or managed service provider as soon as possible.
- Scan for Malware: Run a full system scan using updated security software.
Taking swift action can limit damage and help secure your systems.
Why Proactive Security Matters
Phishing scams are constantly evolving, which means your security measures need to keep pace. Regular employee training, robust security tools, and proactive monitoring are essential to staying ahead of cybercriminals.
Are you constantly worried and asking questions like “What Are the Latest Phishing Scams”? Would you like help improving your business’s cyber security? We provide tailored solutions, including training, monitoring, and advanced threat protection. Contact us today to learn more.
