In today’s digital world, where online transactions and remote work have become customary, keeping employees safe from fraud is a critical responsibility for every company. Fraud not only affects the financials of the individual, but also the trust and morale within the business. As businesses make advancements, so do scammers, making it essential for companies to implement strategies to protect employees. Here, we explore effective ways to keep your workforce safe from fraud.
Two-factor authentication (2FA) and multi-factor authentication (MFA) add an additional level of protection to account logins. Two-factor requires the user to have at least two types of credentials before being able to access an account, and multi-factor requires all three. It can be simple for hackers to guess weak passwords, but it is much more difficult to obtain something physical – such as the hardware or software security token or mobile phone you’ve authorized for verification texts.
With many employees working remotely, it is essential to secure your wireless network at home, preventing unauthorized access to your internet connection, files, and activities. Enable encryption and set strong passwords for Wi-Fi networks and router access. Disable remote login to prevent unauthorized external access and regularly update router firmware and all other devices. Within the Wi-Fi settings, run up-to-date antivirus software and install a network firewall. A firewall can block malicious traffic from entering your home network and alert you to potentially dangerous activity.
A direct-deposit phishing scheme is aimed at employers that use self-service direct-deposit platforms. These platforms allow employees to manage their W-2 and payroll options. They contain personally identifiable information (PII) as well as direct-deposit banking data. Scammers pose as trusted authorities like HR departments or vendors, sending phishing emails to employees. The email directs the employee to perform what may feel like a common transaction, like confirming a direct-deposit account, viewing changes to the account, etc. The goal is to get you to reveal login credentials to the fraudster, who can then use those credentials to steal PII as well as redirect the employee’s deposit to another account. Detecting these scams is similar to other phishing emails. Look for the same signs, spelling errors, unusual requests, sense of urgency, and clicking on a link or opening a suspicious file.
Providing ongoing training to employees on spotting and preventing fraud can make all the difference. Educate them about common tactics such as these phishing scams, and how to keep their devices safe. Empower them with the knowledge and skills to safeguard sensitive information and assets. Encourage employees to report any unusual incidents or security concerns immediately. Protecting them not only enhances security, but also strengthens trust and stability within the company. Visit our website for more information on how to keep employees, companies, and yourself safe from fraud.
