Businesses can reduce the occurrence of data theft, data hijacking and cyber extortion only if they proceed with reporting scam emails. Scam emails have found to be the cause of frequently reported scandals that relate to businesses. Scam emails can lead to one or more of the following frauds:

  • Manipulating the receivables of the business and collecting them by misrepresentation and identity theft
  • Trespassing into client database and stealing their sensitive details for effecting both financial and non financial damages to the business
  • Holding private data and threatening the business for ransom
  • Fake domain renewal notices sent in the form of emails
  • Target the employees of the business by way of executive impersonation emails
  • Business Email Compromise attacks where email security is compromised and impersonators manipulate emails of the business

Reporting scam emails to fraud prevention department

Once a suspicious email is received in the inbox, the concerned executive should not waste any time in reporting scam emails to the fraud prevention unit. In case of small businesses without such a dedicated department, reporting of scam emails should be done to the IT executives who will effectively address the issue of scam emails. The steps undertaken will include:

  • Look for discrepancies from the results of periodic internal audit that is conducted
  • Work closely with the HR department of the business in case of email frauds on employees
  • Using fraud prevention tools like pattern recognition, cognitive analytics and mail shields to protect the email privacy of the business and its employees
  • Using a set of probability based techniques in testing the authenticity of the emails received, like, looking out for email whaling keywords, credibility of the originating domain etc.

Reporting scam emails during tax season

The employees of all sizes of businesses become more prone to scam emails during the tax season. IRS has witnessed an upward trend especially at the close of the tax season, when people normally will not be suspicious to open an email from the IRS. This is also the time when tax planning consultants, tax filing firms and attorneys write to prospective customers for their business. And it is scam time for fraudsters. Reporting scam emails can include the following.

  • Report the issue to the HR Department immediately, that handles salary related income tax issues of employees
  • Where the scam email has hit the inbox of an employee who stores vital data relating to clients in his emails, the cyber security team as well as senior management must be informed immediately.
  • Reporting scam emails to IRS by forwarding the fishy mail will start professional investigation into the same
  • Getting a tailored email fraud detection system in place. There are a number of private organizations rendering this service at very nominal costs. These customized solutions use techniques like predictive analytics as well as a host of statistical tools in preventing scam emails.
  • In case, the issue starts occurring quite often, it is time to take up the issue with cyber police and the other law enforcing agencies. In the UK, Action Fraud provides effective fraud protection against scam emails, with an online facility to lodge complaints
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