Small Business Owners: Don't Go Phishing

If you have an email address, you have probably received many, many phishing emails. Phishing is the fraudulent practice of sending emails purporting to be from reputable companies or individuals in order to get personal information, such as passwords and/or banking information. The goal is to take control of your computer or steal your money.

Phishing is a big business. Every 20 seconds a new phishing website is launched. The scary thing is that some of these emails appear to come from people you know. The phishers try to get personal by sending emails or texts claiming to be an old friend, your child's teacher or coach, a friend from church or even a manager at work. Here are some phishing emails to watch out for that are still going around.

#1 Suspended Account

This email appears to come from a big company like Apple, Netflix or Amazon saying that your account has been suspended due to non-payment. Then it asks you to click a link and update your credit card information.

What to look our for: Always check the email address of the sender against legitimate previous emails you have received from this company. Usually the scammer email has an email address that is similar but maybe has a number where a letter should be, but something is definitely different. Never just click a link to update your financial information. Always go to business's legitimate website to update any info.

#2 Fake Wire Transfer

This email is used if you work for a large company and appears to come from the accounting department. It asks you to process a wire transfer immediately. You are asked to transmit $$$$ to a recipient through a link provided.

What to look out for: Phishing emails often ask that you break company policy or normal company behavior. The scammer will often try to use sympathy, fear or urgency to comply with their wishes. Always check the email address. It's always slightly different than your actual company's email addresses. If you are still confused, pick up the phone and call your accounting department to make sure.

#3 Processing Problem

This came look like it comes from your employer and may claim that there is a problem with the tax withholding for your upcoming check. The sender asks you to take a picture or scan a previous pay stub in order to confirm your pay rate.

What to look for: Everyone is concerned with their paycheck and income taxes and health care and the scammers know this. Like in the previous example, this phishing email will come with a sense of urgency. Also like the previous example, always check the email address for inconsistencies with your company's email addresses.

#4 Sextortion Treat

This email says that they have compromising photos of you and if you don't pay the ransom, they will send the photos to your family and friends. The email may even state what your actual password it.

What to look for: Do not pay this ransom! They do not have photos of you. However, they probably got your password from the hacking of a website where you had an account. You should change your password and don't use the same password on multiple websites. This "sextortion" scheme is relatively new but is growing more and more popular.

#5 Alert From Known Source

This phishing email comes from a known source. It could be a friend, a child's teacher or coach, or even a family member. The email usually involves the changing of some sort of plans and to click on the link to download the attached document for revised times and locations. The email will contain your name or the your child's name.

What to look for: The scammer has used your social media accounts to learn everyone's names and planned events. Do not download the attachment! It will infect your computer with malicious software that will disable or give control of your computer to the scammer.

#6 Nigerian Prince

A member of the Nigerian royal family contacts you via email saying they need your assistance in transferring several million dollars out of Nigeria and into your account. You will be paid for your help and to please send you bank information so they can begin the transfer.

What to look for: This may be the oldest scam still in existence but it is still being used. Mainly because people keep falling for it and scammers are collecting almost a million dollars a year from it. Be suspicious of any email that sounds too good to be true.

Conclusion

Phishing emails are still fooling people or scammers would not be using them. Always investigate suspicious emails. Never click on a link or download a document. Check out the sender's email address. And report any suspicious emails to the proper authorities. Many businesses have fraud hotlines or email addresses to report these types of phishing expeditions.

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