Local IT firm urges businesses to increase security after cyber fraud attempts

Tuesday 22 August 2017

A Channel Island IT firm is urging businesses to step up security awareness training for staff after a series of cyber fraud attempts targeted local companies.

The Jersey Financial Services Commission (JFSC) recently issued a warning after they became aware of at least three cases of cyber fraud attempts on Jersey companies.

In what is referred to as an 'impersonation attack', where fraudsters register a fake domain similar to a company’s real name and send emails requesting payment, one case saw an attempt to extort more than £450,000.

Logicalis advises businesses to use security awareness training and testing of employees as the first line of defence against phishing attacks.

James Gillies, Technical Consultant, Logicalis, said: “The people inside a company are often the weakest link in a security system so training them how to avoid fraudulent emails is one of the best ways a company can avoid becoming a victim of cybercrime. We help clients by using a service such as KnowBe4 which trains and tests staff, making them more aware of what fake emails look like and the sort of things to avoid.

“Phishing attacks are getting more sophisticated. Cybercriminals can obtain astounding amounts of data about people from company websites and social media profiles, then use this to send targeted emails, known as spear-phishing. People are more likely to take action, such as clicking a link, or making a payment if it looks like a request from a trusted source.”

Pictured: JFSC Director General John Harris urged local companies and islanders "to be extra vigilant" following a series of targeted cyber fraud attempts.

Commenting on the recent targeted cyber fraud attempts, JFSC Director General John Harris said: “We are asking local companies and islanders to be extra vigilant. We are aware that this is not an isolated incident and that cybercriminals have purchased several domain names that are similar to local companies’ domain names with the intention of conducting fraudulent activities. Verifying the authenticity of any unexpected emails requesting funds is key to avoid falling victim to this type of cyber-crime.”

Any Islanders who believe that they may have been targeted should contact the States of Jersey Police on 01534 612612 and email the Jersey Fraud Prevention Forum on scams500@police.je

Any local companies which identify a cyber fraud attempt should also notify the States of Jersey Police in addition to their JFSC supervisor.