Phishing attacks are an ever-present threat, costing businesses and their partners hundreds of thousands of dollars annually. After years of responding to email security incidents, we've noticed a troubling and recurring pattern in successful phishing schemes. The good news? Understanding this pattern can help you protect your company and clients from becoming the next victim.
Why Do Phishing Attacks Succeed?
One of the most damaging phishing scenarios occurs when hackers convince your clients to pay an invoice to an account you don’t control. What’s particularly alarming is how these attackers seem to have insider knowledge of upcoming transactions.
This is often a clear indicator that someone’s mailbox—yours, your client’s, or a supplier’s—has been compromised. But how can you confirm such a breach and, more importantly, secure your organization against future attacks?
Steps to Confirm and Prevent Phishing Breaches
1.
Check for Suspicious Login Activities
Hackers often fail to hide their tracks entirely. Review login activity logs for your email accounts:
- Look for logins from unfamiliar countries, such as locations where you’ve never traveled.
- Hackers frequently use direct connections without masking their IP address, making these anomalies easier to spot.
2.
Assess Your Security Measures
Although technologies like Multi-Factor Authentication (MFA) provide an added layer of security, hackers are growing more sophisticated:
- EvilProxy: An advanced phishing technique that intercepts MFA tokens.
- Notification Fatigue: Spamming users with endless notifications until they accidentally approve unauthorized access.
Take a critical look at your anti-spam, web proxy, and antivirus (AV) defenses. The evolving threat landscape means your tools must keep pace with attackers’ innovations.
3.
Adopt Conditional Access Policies
For advanced protection, consider implementing conditional access policies:
- Restrict access based on IP locations, blocking logins from high-risk or untrusted regions.
- Use phishing-resistant MFA alternatives like YubiKeys, which eliminate vulnerabilities in SMS-based or app-based MFA.
These measures may require significant effort and expertise to implement but are invaluable for securing your accounts against sophisticated attacks.
4.
Implement DMARC
DMARC (Domain-based Message Authentication, Reporting, and Conformance) is essential for ensuring email authenticity. It prevents hackers from spoofing your domain, reducing the risk of fraudulent emails targeting your clients and suppliers.
5. Monitore lookalike domains
Regularly monitor and takedown lookalike domains registered by attackers. These fake domains can be used to deceive victims into believing they’re interacting with your legitimate organization.
Be Proactive, Not Reactive
The financial and reputational damage caused by phishing attacks far outweighs the investment in preventive measures. Ensuring robust email security isn’t just about protecting your company; it’s about securing the entire network of clients, suppliers, and partners who depend on you.