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Why Call Center Fraud is Becoming More Problematic
Hackers are becoming more difficult to detect, and their tactics seem more creative every day.
And while there are those skilled hackers who attempt to breach sophisticated cybersecurity systems, there are many hackers who rely on opportunity more than skill.
Consequently, call center fraud has increased significantly in the past few years, resulting in data breaches coming from areas that organizations aren’t accustomed to managing.
The call center is a weak link
There are several reasons why call centers have become a primary target for cyber-attacks. Online channels are more secure than ever, and EMV credit cards have made it more difficult for purchases to be made without the card or customer present. Therefore, call centers have become one of the easiest ways to gain access to privileged information. Organizations are so busy navigating cross-channel business platforms that they fail to realize the weaknesses that exist within their call center processes. If hackers want access to other networks, the call center is where they will likely start.
Technology makes it easier for hackers
A single call center can offer many opportunities to a basic-level hacker, with technology that is easy to obtain. There are simple programs that will reset PINs and VoIPs to show a false caller ID or an unidentifiable number. Through such methods, hackers can attempt a variety of criminal activities ranging from account takeovers to the gathering of information about either customer accounts or the organizations they are attempting to breach. It only takes a small slip-up from an employee to offer basic information that will provide access to sensitive data.
The customer is always right
The biggest vulnerability at call centers results from the fact that the primary focus is on customer service rather than identifying fraud. The entire premise of a call center is to solve customers’ problems, which is increasingly difficult when hackers are attempting to impersonate legitimate customers. Current methods of authentication are often ineffective since they tend to prompt for basic information, such as a birth date or a social security number, which are easily stolen. If a hacker answers all the right questions, even with a bit of missing information, they can fraudulently gain access to an account.
Two-factor authentication and other secure methods of verifying customer identity are more important than ever. Not every hacker is a computer mastermind, and now, they don’t have to be. Call center fraud will continue to increase unless proactive measures are taken. Call centers are often on the frontline for an organization’s consumer base; therefore, protecting customer data is a crucial task that must be taken seriously.
The ITeam understands the cybersecurity issues facing Canada. We are committed to helping Calgary- and Alberta-based businesses develop proactive, cost-effective IT strategies that minimize risk and maximize efficiency. Contact us to learn more.
4 Global Cybersecurity Risks Your Business Should Know in 2018
The world is connected to a variety of diverse digital landscapes, ranging from app usage to credit cards, and this level of connectivity is such that it is unwise for any organization to ignore global cybersecurity risks.
Regardless of industry, every organization is at risk of malicious attempts to enter a private security network, and the location is irrelevant.
The Equifax breach is an excellent example: Although the cyber attack predominantly affected those in the US, millions in Canada were susceptible to the breach as well.
All businesses must prepare against the inevitability of malicious cyber attacks, particularly as technology continues to advance on a global scale.
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Organizations aren’t prepared for GDPR
Despite advanced warnings regarding the implementation of new cybersecurity standards, many organizations are still unsure of how to manage changes that will ensure compliance with the EU’s General Data Protection Regulation (GDPR).
The new regulation – scheduled to take effect on 25 May 2018 – demands that organizations handle personal data differently, but how those organizations ensure compliance is another matter entirely.
Resources are being pulled in different directions, and time will need to be set aside to educate stakeholders.
This primarily affects those businesses that engage in international trade, and an understanding of what is necessary to comply with the GDPR will help enhance cybersecurity when doing business with international clients.
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The Internet of Things (IoT) poses a threat
Concerns surrounding the level of security among IoT devices has been discussed many times, but there is little forward progress in addressing the problem.
Although such devices add a level of convenience, they could provide the opening that a hacker needs to gain access to sensitive information.
Organizations that utilize IoT devices without the proper security infrastructure are susceptible to unmanaged risks, as it will become harder to track what – and how – information is transferrable.
IoT compromises security and no organization is immune.
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The supply chain remains a weakness
Many organizations have a firm grip on their own cybersecurity practices, but knowledge of the existing infrastructure of third-party vendors is not as common.
Hackers are capable of taking advantage of this weakness in the supply chain, thereby gaining access to your IT infrastructure.
Unfortunately, when it comes to global business, the supply chain is a critical component of a successful operation.
Organizations must address the security risks between their international suppliers and take proactive measures that will prevent or at least minimize breaches.
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The advance of breakthrough technology surpasses security spending
One of the most prominent concerns relating to international cybersecurity is the global tech war.
Individual countries are determined to produce the best in technological advances, without addressing security concerns applicable to those devices or systems.
Information security teams are expected to keep up with such developments, but the development of a robust cybersecurity strategy takes time.
Risks must be assessed holistically within the organization to close any gaps that hackers could leverage.
Stakeholders are demanding results, but they must understand that the best technology will pose a threat to the entire business if the end result is not secure.
International preparedness is the only way to mitigate international security risks. Individual organizations are only single elements of the global economy, and in a digital world, there are virtually no limits to the damage a single breach can cause. Malicious cyberattacks are an international concern, particularly as criminal organizations become more prominent. The international sharing of technology can boost the world economy, but the cybersecurity risks will grow as well.
Insider Threats are Top Concern in Cybersecurity
Organizations are often so focused on establishing an IT infrastructure that will defend against external data breaches, such as ransomware and phishing scams, that they neglect those threats that are most pervasive: insider threats.
Security threats that are a direct result of employees’ actions occur more regularly than most companies would like to admit.
What is an insider threat?
An insider threat is a threat to on an organization by people who work for, or used to work for, the company or by people who have access to the company’s data because they are contractors, vendors, or third-party stakeholders with access to a company’s network.
It is an action, whether intentional or not, taken by an employee who has legitimate access to organizational systems, that results in a data breach.
Insider threats can be the most detrimental to an organization, simply because many occurrences are the fault of employees who have no idea that they are putting the entire network at risk.
The most common sources of insider threats:
- Accidental – Phishing attempts are successful because many employees do not know how to recognize malicious attacks when they see them. As well, organizations make the mistake of allowing too many users access to privileged information. They also are not aware of the security practices of third-party vendors. Each of these loopholes poses a risk to your cybersecurity framework. Lack of education results in mistakes that could be easily prevented.
- Negligent – There are also breaches that occur because employees do not realize the extent of the damage that may result from ignoring basic security practices. The desire to complete a project could lead an employee to send critical data to an unsecured home network or to use an unapproved mobile device. Convenience and the desire for increased productivity are the leading causes of negligence in terms of cybersecurity, and despite good intentions, such actions can have devastating results.
- Malicious – The most obvious form of insider attacks are malicious actions taken against the company. Terminated or disgruntled employees may seek to benefit from selling personal data on the black market, or they may simply expose sensitive information to the public as a political or social statement. Furthermore, it is not unheard of for current employees to be recruited by those wanting access to the network, with offers to pay generously for secure passwords.
How can you manage insider threats?
Managing insider threats does not involve viewing all employees as potential nemeses.
However, precautionary steps must be taken to prevent leaked data and unauthorized access.
Organizations can easily limit the number of privileged users, thereby reducing the number of employees who have access to private data.
Those who do have access should use stringent controls, employing strong passwords and limiting access to shared accounts.
Educating your entire workforce, from the CEO to all lower-level staff, is a must for the successful implementation of smart cybersecurity practices.
As well, it’s important to consistently monitor cyberactivity, using systems that can alert you to unusual patterns or access points.
Taking these steps can prevent insider threats from taking advantage of your systems.
Security tends to be more relaxed within the walls of your own business, which is why organizations are more at risk from insider threats.
Many breaches are accidental, but an honest mistake does not change the fact that millions of dollars could be lost.
A strong cybersecurity strategy starts with those within the organization.
Ensure that your employees are an asset, not a liability.
The ITeam understands the cybersecurity issues facing Canada. We are committed to helping Calgary- and Alberta-based businesses develop proactive, cost-effective IT strategies that minimize risk and maximize efficiency. Contact us to learn more.
Your Employees Are Your Strongest Cybersecurity Defence
Cyber threats are consistently evolving, and despite what small- and medium-sized business owners may think, they are prominent targets.
Hackers can cause enormous financial losses that place the success of your entire business at risk, demanding an all-inclusive cybersecurity strategy.
However, the best cybersecurity defence will fail if you haven’t managed what should be your top priority: employees.
Without proper training and awareness, employees are your biggest threat.
But with the right strategy in place, employees can also be your strongest cybersecurity defence against cybercriminals.
Mandate Training for all Employees
Every person within your organization should receive cybersecurity training and be made aware of all security policies, from C-level executives to entry-level staff.
This is particularly important when employees are accessing time sheets or work email accounts on personal devices.
A personal device could be the entryway that a hacker needs to access critical company systems because most of these devices do not meet security protocols.
Awareness of strict security policies will prevent mistakes and deter fraudulent activity from insider threats.
Ransomware is Intelligent
Training is an essential component of a strong cybersecurity defence involving employees because many hacking attempts are becoming increasingly sophisticated.
It can be hard to differentiate fraudulent access points or requests, and a single click can wreak havoc on your infrastructure.
Education, and relaying the importance of cybersecurity information, is how you can build a strong defence against hackers.
Threats Are Avoided Entirely
When employees are routinely trained, they are more likely to identify suspicious activities and prevent breaches altogether.
If a hacker does gain access to your infrastructure, employees working within the system can prevent further damage.
Your employees will also think twice about clicking on links within emails and will be less likely to open attachments that could contain ransomware.
Onboarding is an excellent opportunity to disseminate information regarding current and emerging threats, and ongoing cybersecurity training should update employees on anything new.
Key Elements of Training
Despite the push for initial and continued training, many businesses aren’t sure where to start.
Luckily, the initiatives that can establish a robust cybersecurity strategy are simple and easy to implement.
Communication should be where you start, encouraging employees to discuss concerns and ask questions if they notice anything awry.
Employees must also be aware of common threats and where they are most likely to encounter phishing attempts or malware.
Clear guidelines and standards will also make it difficult for breaches to occur.
When all employees are aware of the existing policies and are held responsible for security within the scope of their positions, threats are greatly reduced.
Employees may feel frustrated by some security standards, such as password strength and multi-factor authentication, but these strategies protect employee and business information.
When education is provided, employees become a partner in your overall cybersecurity efforts.
Your greatest weakness can also be your greatest strength if you invest the necessary time and resources in educating your employees.
The ITeam understands the cybersecurity issues facing Canada. We are committed to helping Calgary- and Alberta-based businesses develop proactive, cost-effective IT strategies that minimize risk and maximize efficiency. Contact us to learn more.
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The ITeam
Suite 200, 1210 8 Street SW
Calgary, AB T2R 1L3
(403) 750-2540
Suite 200, 1210 8 Street SW
Calgary, AB T2R 1L3
(403) 750-2540