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When Your Facebook Or Other Online Account Gets Hacked, Who’s Responsible For The Losses?

8th December 2023

Recently, the CEO of a very successful marketing firm had their Facebook account hacked. In just a weekend, the hackers were able to run over $250,000 worth of ads for their online gambling site via their account and removed the rightful owner as the admin, causing the firm’s entire Facebook account to be shut down.

Not only are they uninsured for this type of fraud, but they were shocked to discover that Facebook, as well as their bank and credit card company, was NOT responsible for replacing the funds. Facebook’s “resolution” was that there was no fraud committed on their account because the hacker used their legitimate login credentials, and Facebook is not responsible for ensuring you keep your own personal credentials safe and confidential. Further, they didn’t have the specific type of cybercrime or fraud insurance needed to cover the losses, so they’re eating 100% of the costs.

Not only are they out $250K, but they also have to start over building their audiences on Facebook again, which took years to build. This entire fiasco is going to easily cost them half a million dollars when it’s all totaled.

In another incident, another firm logged into their account to find all of their ads were paused. Initially, they thought it was a glitch on Facebook, until they realized someone had hacked into their account, paused all of their legitimate ads and set up 20 NEW ads to their weight-loss spam site with a budget of $143,000 per day, or $2.8 million total.

Due to their spending limits, the hackers wouldn’t have charged $2.8 million; however, due to the high budgets set, Facebook’s algorithms started running the ads fast and furious. As they were pausing campaigns, the hackers were enabling them again in real time. After a frantic “Whac-A-Mole” game, they discovered the account that was compromised and removed it.

The compromised account was a legitimate user of the account who had THEIR account hacked. Because of this, Facebook wouldn’t replace the lost funds, and their account got shut down, with all campaigns deleted. Fortunately, these guys caught the hack early and acted fast, limiting their damages to roughly $4,000, but their account was unable to run ads for 2 weeks, causing them to lose revenue. They estimate their total damages to be somewhere in the $40,000 to $50,000 range.

When many people hear these true stories (with the name of the companies withheld to protect their privacy), they adamantly believe someone besides them should step up and take responsibility, covering the losses. “It wasn’t OUR fault!” they say. However, the simple reality is this: if you allow your Facebook account – or any other online account – to be hacked due to weak or reused passwords, no multifactor authentication (MFA) turned on, improper e-mail security or malware infecting your devices due to inadequate cyber security, it is 100% YOUR FAULT when a hacker compromises your account.

Facebook is just one of the cloud applications many businesses use that can be hacked, but any business running any type of cloud application, including those that adamantly verify they are secure, CAN BE HACKED with the right credentials. Facebook’s security did not cause their account to be compromised – it was the failure of one employee.

The BEST way to handle this is to NOT get hacked in the first place. Here’s what you need to do to protect yourself:

  • Share this article to make sure your staff is aware of these types of scams. Cybercriminals’ #1 advantage is still hubris; businesses and most people in general insist that “nobody would want to hack me” and therefore aren’t extremely cautious with cyberprotections.

  • Make sure you create strong, unique passwords for EACH application you and your team log into. Use a good password management tool such as Keeper to manage this, but remember IT MUST BE USED IN ORDER TO WORK. For example, don’t allow employees to store passwords in Chrome and bypass the password management system.

  • Minimize the number of people logging into any account. If someone needs access, give them that access and then remove them as a user ASAP immediately after. The more users you have on a cloud application, the greater the chances are of a breach.

  • Make sure all devices that touch your network are secure. Keylogger malware can live on a device to steal all of your data and credentials.

If you want to ensure your organization is truly secure, click here to request a free Cyber Security Risk Assessment to see just how protected your organization is against known predators. If you haven’t had an independent third party conduct this audit in the last 6 months, you’re due.

It’s completely free and confidential, without obligation. Voice scams are just the latest in a tsunami of threats aimed at small business owners, with the most susceptible being the ones who never “check the locks” to ensure their current IT company is doing what they should. Claim your complimentary Risk Assessment today.

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New And Urgent Bank Account Fraud Alert

1st December 2023
Xenomorph Android malware

The infamous Xenomorph Android malware, known for targeting 56 European banks in 2022, is back and in full force targeting US banks, financial institutions and cryptocurrency wallets.

The cyber security and fraud detection company ThreatFabric has called this one of the most advanced and dangerous Android malware variants they’ve seen.

This malware is being spread mostly by posing as a Chrome browser or Google Play Store update. When a user clicks on the “update,” it installs the malware designed to automate the process of accessing your online accounts and extracting and transferring funds.

Besides being alert to this scam (and you should let your spouse, partners and family know as well), you should be aware of a few ways to protect yourself:

  • Avoid links and attachments in any unsolicited e-mail. Simply previewing a document could infect your device, so never open or click on anything suspicious.
  • To update your browser, simply close it and reopen. You don’t have to download an application to update it. Furthermore, the Google Play Store app will not ask you for an update, so don’t fall for any website alert or text stating you need to download an update.

But remember, bank fraud can manifest itself in several forms, including:

  1. Phishing Scams: Cybercriminals send deceptive e-mails or messages, often impersonating trusted entities like banks or government agencies, to trick you or your employees into revealing sensitive information like login credentials. Sometimes these are facilitated by phone calls, so make sure your team is fully aware of this. The latest MGM hack happened when a hacker called the company’s IT department requesting a password reset.

  2. Check Fraud: Criminals may forge or alter your business’s checks to siphon funds from your account, making it essential for you to secure your checkbook and be careful about sharing or e-mailing your account information. You might consider going checkless to cut down on the chances of your account being hacked.

  3. Unauthorized Wire Transfers: Hackers may compromise your online banking credentials to initiate unauthorized transfers, diverting funds to their accounts.

  4. Account Takeover: Criminals may gain control of your business’s online banking accounts by exploiting weak passwords, reused passwords or security gaps, such as e-mailing your passwords to others or storing your bank password in your browser, allowing them to make unauthorized transactions.

  5. Employee Fraud: Sometimes, even employees may engage in fraudulent activities, such as embezzlement or manipulating financial records.

To protect yourself, use strong, unique passwords for your online banking accounts and never store them in your browser. Also, update your passwords monthly with significant changes to them, using uppercase and lowercase, symbols and numbers that are at least 14 to 16 characters.

Second, always turn on multifactor authentication (MFA) so you’re notified if anyone tries to log into your accounts without your knowledge.

Third, set up alerts for large withdrawals. You can ask your bank to require a physical signature for wire transfers to protect you from someone taking money from your account without your signature.

Fourth, get fraud insurance that specifically covers employee and online theft so you are protected in the event a cybercriminal steals money from your account.

And, as always, make sure you have strong cyberprotections in place for ANY device that logs into a bank account or critical application. Far too many businesses think that if their data is “in the cloud,” they are safe. Remember, your bank account is “in the cloud,” and the bank likely has a secure portal, but that doesn’t mean YOU can’t be hacked.

If you want to ensure your organization is truly secure, click here to request a free Cyber Security Risk Assessment to see just how protected your organization is against known predators. If you haven’t had an independent third party conduct this audit in the last 6 months, you’re due.

It’s completely free and confidential, without obligation. Voice scams are just the latest in a tsunami of threats aimed at small business owners, with the most susceptible being the ones who never “check the locks” to ensure their current IT company is doing what they should. Claim your complimentary Risk Assessment today.

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Criminals are exploiting AI to create more convincing scams

24th May 2023
Criminals are using AI to scam you

One of the many cool things about the new wave of Artificial Intelligence tools is their ability to sound convincingly human.

AI chatbots can be prompted to generate text that you’d never know was written by a robot. And they can keep producing it – quickly, and with minimal human intervention.

So it’s no surprise that cyber criminals have been using AI chatbots to try to make their own lives easier.

Police have identified the three main ways crooks have found to use the chatbot for malicious reasons.

  1. Better phishing emails

Until now, terrible spelling and grammar have made it easy to spot many phishing emails. These are intended to trick you into clicking a link to download malware or steal information. AI-written text is way harder to spot, simply because it isn’t riddled with mistakes.

Worse, criminals can make every phishing email they send unique, making it harder for spam filters to spot potentially dangerous content.

  • Spreading misinformation

“Write me ten social media posts that accuse the CEO of the Acme Corporation of having an affair. Mention the following news outlets”.  Spreading misinformation and disinformation may not seem like an immediate threat to you, but it could lead to your employees falling for scams, clicking malware links, or even damage the reputation of your business or members of your team.

  • Creating malicious code

AI can already write pretty good computer code and is getting better all the time. Criminals could use it to create malware.

It’s not the software’s fault – it’s just doing what it’s told – but until there’s a reliable way for the AI creators to safeguard against this, it remains a potential threat.

The creators of AI tools are not the ones responsible for criminals taking advantage of their powerful software. ChatGPT creator OpenAI, for example, is working to prevent its tools from being used maliciously.

What this does show is the need to stay one step ahead of the cyber crooks in everything we do. That’s why we work so hard with our clients to keep them protected from criminal threats, and informed about what’s coming next.

If you’re concerned about your people falling for increasingly sophisticated scams, be sure to keep them updated about how the scams work and what to look out for.

If you need help with that, get in touch.

Published with permission from Your Tech Updates.

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Cyber attacks are getting smarter and bigger. Is your protection?

27th February 2023
Cyber Attacks are getting Bigger and smarter

Have you ever tried to buy tickets for a huge event and found that the seller’s website has collapsed under the weight of thousands of people all trying to do the same thing at the same time?

The ticket site falls over – usually temporarily – because the server is overloaded with traffic it doesn’t have the capacity for.

Criminal Distributed Denial of Service attacks – DDoS, for short – exploit the same principle.

When a DDoS attack targets a business, it floods it with internet traffic in an attempt to overwhelm the system and force it to fail.

This results in the business and its customers being unable to access services. That may trigger a temporary failure, or it could be more serious. Last year, the average DDoS attack lasted 50 minutes.

That may not sound like a long time, but it’s enough to create angry customers, or to bring business to a grinding halt. And downtime can be costly.

The really bad news is that DDoS attacks are not only lasting longer, but they’re becoming bigger, more sophisticated and more common.

Recently, the biggest ever reported DDoS attack was reportedly blocked. At its peak, it sent 71 million requests per SECOND to its target’s servers. Prior to that, the biggest reported incident stood at 46 million requests per second.

Worse still, more businesses are reporting being targeted by DDoS attacks where criminals are demanding huge ransoms to stop the attack.

What does this mean for you?

It’s important you check all your security measures are up-to-date and working as they should be. Are your firewalls up to the task, with DDoS monitoring and prevention tools set up? And is your team fully aware of the importance of staying vigilant?

We can help make sure your business stays protected. Just get in touch.

Published with permission from Your Tech Updates

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Holiday Cyber Attacks

15th November 2022
Holiday Cyber Attacks.

Holiday time is coming and so are the Holiday cyber-attacks!

Before working in IT, and Cyber Security, I was in the Military, and whenever we were operating during holiday periods, we knew in the back of our minds that if something was going to happen it would happen during holiday time.

The same is true of cyber-attacks and cybercrime. This year we might see more than previous years, already in early October there was an attack on some of America’s largest airports websites.

It isn’t just the Christmas holiday period that we see the increase

  • Colonial Pipeline (Mother’s Day Weekend (US))
  • Kaseya 4th of July
  • Sony and Microsoft Christmas Eve)

Holiday Cyber Attacks, why and what you can do.

The bad guys are aware that during holiday periods there are fewer employees around to look after the infrastructure. Also we are all preoccupied with thoughts of the festive season. So may click on items that we might not normally do.

Security tips:

  • Train empolyees in cybersecurity and phisihing awareness.
    User error is still the number one cause of malware attacks, make sure all employees undergo an annual social engineering training.
  • What are the internal threats, including scanning and patching software?
    If you are able to make sure these are taken care of this will help in securing your organisation from exploits whilst there is limited supervision during this period.
  • Who has access to your Systems.
    Have you implemented a strategy to restrict who has access to data stores, and applications. Only allowing team members access to what they need and having the right levels of privileged access will help.
  • Protect the Network
    Although perimeter firewalls will assist in a strong defence, you should also deploy firewalls at the endpoint, and this should block applications and traffic, unless it is required.

Don’t get caught out this year! If you need any help on this please call 01752 546967 and we will be happy to help.

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Malicious browser extension are you using them?

30th August 2022
Malicious Browser Extensions

There are hundreds of thousands of browser extensions designed to help us to save time, be more productive, and personalise our online experience.

And while the majority of them do what they’re supposed to, some are not designed to help you at all…

If you’re unfortunate enough to download a malicious browser extension without realising, it could harm your productivity and even flood your work with unwanted advertising.

This is known as adware. It’s a form of malware (malicious software) that’s designed to bombard you with unwanted adverts.

It can also change your search engine and send you to affiliate pages when you’re making purchases. These activities generate revenue for the extension’s creators.

In a recent report from a cyber security company, it revealed more than 4 million of its customers have been attacked by adware hiding in browser extensions over the last couple of years.

And often people didn’t realise they were under attack.

There’s a darker scenario where these malicious extensions are hiding actual malware which can infect your computer.

This can lead to sensitive data such as your logins or even payment details being stolen. And of course malware can spread across an entire network.

To keep your business and its data safe from the risk of malicious browser extensions, it’s important you only ever download them from reliable and trusted sources.

What to do

Read reviews and look at ratings. If a browser seems too good to be true it probably is.

As the business owner, you might also look into controlling which extensions can be installed by your team.

We can help with this, as well as looking at up-to-date software protection and (fun) security training for your team.

Published with permission from Your Tech Updates.

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Are your Apps spying on you?

5th July 2022
Are your apps spying on you?

Are your apps spying on you. It’s no secret that some applications are a little too interested in us and what we’re doing.

We’ve all had this experience. You might be talking to a friend about a new product that you’d like to try. Or perhaps you’ve discussed somewhere you’d like to visit.

Then the next time you go online you see adverts for the exact things you were talking about.

It’s more than a coincidence, surely???

Until recently, we haven’t had a lot of control over what information our apps are gathering about us.

Android and iOS first stepped up to give us more power over our online privacy. We were given the ability to control which apps could access our data, and sensitive things like our camera and microphone.

But while it’s easy to think of this only being an issue with phones… laptops have the same problems.

So here’s some great news, to stop your apps spying on you.

Microsoft’s testing a new feature in Windows 11 to put the power back in our hands.

It’s currently testing a new feature – called Privacy Auditing – which allows you to see which applications have been accessing sensitive hardware, like your webcam and microphone.

You’ll also be able to see if your screenshots, messages, and even your contacts and location data have been accessed. And there’s a log of which apps accessed this info, and when.

When launched, the feature will be available in your Privacy & Security menu, under App Permissions.

There you’ll be able to see a full list of what’s been accessed, by which app, and when. It should become your first port of call if you suspect any suspicious activity is taking place on your device.

When the feature is released, it will be a great tool to check periodically to help you avoid malicious activity and to make sure your sensitive data remains in the right hands.

In the meantime, if you’d like someone to look over the data permissions on your business’s devices, get in touch.

Published with permission from Your Tech Updates.

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