Security Breach Update
27 June 2019

Three Billion Phishing Emails are Sent Every DayThree Billion Phishing Emails are Sent Every Day

Phishing attacks are wreaking havoc as they encourage unsuspecting recipients to hand over critical credentials that give hackers access to network infrastructure, personal financial accounts, and other important portals.

This type of cybersecurity threat is ultimately the most defensible, since phishing attacks not only need to make it through email filters, but recipients have to directly act upon the message. Yet, they continue to inflict serious damage on small and medium businesses alike, becoming more common and complicated in today’s digital landscape.

According to a recent report, more than 3.4 billion phishing emails are sent each day, making it increasingly probable that an employee will accidentally engage with the message. This underscores the need for awareness and prevention training to disrupt these efforts.

Recent Breaches

Australia – Australian Catholic University – Public University with seven campuses throughout Australia.

Exploit: Phishing attack

Risk to Small Business: Severe: A phishing email supposedly originating from the university tricked several employees into providing their account details through a fake login page. Since these credentials could provide hackers with access to multiple university systems, those impacted by the breach had their credentials reset and relevant financial institutions were notified.

Risk to Exploited Individuals: Severe: Although the data breach was relegated to university staff, those who entered their credentials in the fake login page could have had their email accounts, calendars, and bank account details compromised. Therefore, anyone impacted by the breach should monitor their accounts for suspicious activity.

Customers Impacted: Unknown.

Australia – Nagle Catholic College – Independent Catholic day school

Exploit: Phishing attack

Risk to Small Business: Severe:  A four-day “highly sophisticated” cybersecurity attack that began when someone clicked on a malicious link in a phishing email has allowed hackers to access parents’ personal information stored on the network. The school is working with law enforcement and cybersecurity experts to address the data breach by identifying cybersecurity standards in need of remediation and fully understanding the scope of the attack. Due to this cybersecurity incident, the school will have to foot the bill for cybersecurity services while also facing increased scrutiny from media and community members.

Risk to Exploited Individuals: Severe: Although the school is still in the process of identifying the compromised data, it’s clear that financial information was accessed during the attack. This could include parents’ bank account details, credit card information, and scanned signatures. Since this information is valuable on the Dark Web and can spread quickly, those impacted should be vigilant about monitoring their financial accounts while also obtaining necessary credit monitoring services to ensure that their credentials are not being misused.

Customers Impacted:  Unknown.

Being proactive in developing a cybersecurity plan can be the difference in successfully defending a breach or losing millions to a harmful attack.

Protect your data, privacy and reputation, talk to a TCT sales team member today.

Robert Brown
27/06/2019

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