Managing Cyber Risk
Here are some useful tips from our security provider, Securecom that may help you manage your personal cyber risk.
The financial services sector is a prime target for phishing and online fraud. Phishing is a part of life these days, but what many people don’t realise is that phishing emails are often used as the start of sophisticated and targeted attacks. Using scams to trick people into entering their username and password is a common technique, and once they have your login details, the attackers can use this to launch further attacks. For instance, spreading ransomware across your systems, compromising your email and issuing fake invoices, or inserting themselves between an organisation and its customers to divert fund transfers or other payments to their own bank accounts. These attacks are often persistent and long-term.
Luckily, a few basic controls can go a long way to help mitigate this kind of attack. Firstly, use multi-factor authentication wherever you can, and as a minimum on all remotely accessible services (e.g. Office 365). This is technology that requires you to enter a second authentication method on top of your password, such as a one-time code or through an authentication app on your phone.
Secondly, make sure you undertake training on how to spot phishing emails, and if you run an organisation, ensure your people are trained. This training should include regular phishing simulations. And lastly, ensure you keep all your devices up-to-date in terms of security updates and operating system/application patches. This includes making sure your antivirus software is kept current. For the best protection, you should consider advanced device protection such as Microsoft Defender for Endpoint.
These measures are all about common-sense cyber security which is a fundamental principal which Securecom apply with their work with their clients. Cyber security doesn’t have to be complicated. Securecom have developed a 'How Secure, Get Secure, Stay Secure' approach to help New Zealand organisations of any size cut through the jargon and make sense of their security.