Leoni AG, a wire and cable manufacturer victim to hackers lost approximately $44 million. The company fell victim to a couple of well-known exploits in the computer security community, Email spoofing and social engineering.
Email spoofing- You receive an email from an address that looks similar to your own for instance, your email domain is mybusiness.com, what would you do if you receive an email from someone at mybusiiness.com similar but not quite the same.
Social engineering – the receiver of such email believes it is from someone in the company and wires the money. Classic
After internal investigations it was revealed that the culprits knew the company’s practices for wiring money.
How could this have been prevented?
Training – train your employees to recognize these tactics by malicious users
Prevent and safeguard company assets visiting well known malicious sites.
Email – blocking unwanted and unneeded domains from reaching your servers by using enterprise grade spam and email filters.
I.T. business solutions can analyze, install, configure and mitigate all these security issues. How would such a loss affect your business?