MailGuard Blog

Business email compromise (BEC) scams have been around for a while, but their continued success at bringing down organisations (both large & small) shows we’re dealing with an adversary that is constantly looking for ways to exploit our systems, our psychology & our trust.  

It’s integral that businesses proactively take steps to enhance identity-related security measures like MFA because since the COVID-19 pandemic, “identity has become the new security perimeter” according to many experts, including Microsoft. 

The tax season has always been a busy one for scammers, but the ongoing uncertainty triggered by COVID-19 last year enabled them to augment their attacks and take further advantage of the fragile mental state of taxpayers and professionals – essentially, presenting scammers with an opportunity to use an enhanced sort of psychological warfare.

A PwC survey released at the end of 2020 highlighted fears of growing cyber-attacks targeting local critical infrastructure. Australian business leaders said that they were expecting more cyber-attacks in the next 12 months than their global peers, including 56% of local executives who anticipated “attacks on the nation's critical infrastructure which could shut down vital services such as hospitals.”  

Cybersecurity was a significant catalyst in facilitating productive remote work and ensuring business continuity in 2020. 

Against the backdrop of a global pandemic, and with more businesses operating remotely, the global scourge of cybercrime became even more calamitous in 2020.

While challenging, 2020 drove a long-overdue review of our approach to cybersecurity for many, especially with the explosion of COVID-19 themed cybercrime targeting remote workforces.

The COVID-19 pandemic accelerated digital transformation among many businesses, but also simultaneously exposed their cyber vulnerabilities and levels of unpreparedness against insidious, targeted cyber threats. 

As 2020 comes to a close, we want to extend a big thank you to everyone for your invaluable support throughout what has been a tumultuous year.  

For the first time ever, Microsoft Inspire 2020, was an all-virtual conference this year.

Defending against Business Email Compromise (BEC) attacks has long been a key component of many businesses’ cybersecurity strategies.

As many of you know by now, Australian Prime Minister Scott Morrison announced in a press conference last month that Australian private & public sector companies are being targeted in a massive cyber-attack by a "sophisticated state-based cyber actor". 

The End of Financial Year (EOFY) is approaching – a period that notoriously witnesses a spike in finance and tax-related scams affecting business worldwide. Just this past month, we’ve intercepted several such email scams, including those brandjacking banks like ANZ & other financial institutions, and those containing statements of accounts. 

This week marks Privacy Awareness Week 2020, an initiative by The Office of the Australian Information Commissioner (OAIC). It aims to highlight the importance of protecting personal information and to help organisations and employees across Australia navigate the privacy landscape.

About a month ago, we reported a rise in COVID-19 themed email scams that were infiltrating inboxes worldwide. These included emails impersonating the World Health Organization, through to those selling face masks at unbelievable prices.