Office 365 Phishing scams

Currently, Cloud technologies has become a new trend and so most of the industrial aspects moving their main components to cloud . There are number of advantages when you moving to cloud.

Efficiency and Cost Reduction, Data protection, Scalability, Mobility, Disaster Recovery, Competitive Edge and Control will be some good advantages to cloud computing in industry level. Cloud computing will decrease number of questions which will occur in the on premises infrastructure.

Industry always recognizing the advantages of cloud computing which impact their production, revenue, collaboration and security. But there are some security risks which must understand by all. Office 365 is a product which was done by Microsoft and it has 155 million active commercial monthly users. Office 365 is one of the most widely used hosted email and productivity suites. Mostly it’s a main target of cyber criminals.

We use business email to marketing purposes and for business communication. We using BEC, business email compromise, which is a type of advanced phishing scam. In here cyber criminals pose like an employee, we can say like level C executive. So they can easily comes into substitute bank account which may be use for wiring payment for goods or services. To conduct a attack like this, criminals will try to compromise a user account. They may use old fashioned traditional credential harvesting phishing attack. Most of the management people do not have a proper idea about phishing attacks. If someone use a unwanted link to login or may be clicking may compromise your details to hackers. And also they can spoof your email address. Your email address mostly familiar with your company accounts and that may give hackers a good chance to attack easily. So hackers can use your email address to send phishing emails to others.

There are number of people who faced to these attacks like, Italian football club, Lazio . The $ 2 million money transfer has went to a cyber criminal, which wanted to go to another football club. In security chain, still the weak link is people. So as a company, employer must have an idea about the cyber security is a must.

In old days we received some emails, with the topic of “Congratulations you are a winner of 5 million dollars! Please click the link to open the web site”. Now the modern cyber criminals using better ways like fake notifications, fake requests, fake security alerts and meeting appointments. These emails are non avoidable and we have to open them to check whether they are correct or incorrect .

There are some methods, which may be useful if you already using Office365 or hope to use it. One of the best method is enforcing two factor authentication method. This will be a next level security feature because if your password or email is stolen by someone. And also we can arrange some options like detect account and infrastructure changes, monitor unauthorized network changes in your company, email marketing methods and automatic forwarding of emails to other accounts.

Hope you got some knowledge on phishing and the new threats of cloud computing. Appreciate your comments about the article…

Source : https://www.cloudcomputing-news.net/news/2019/jul/25/rise-office-365-phishing-scams-how-one-compromised-account-can-cost-millions/

Featured Image : https://www.aalto.fi/en/services/microsoft-office-365-services

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