COVID-19: Protect your business during this “perfect storm” for fraud

The chaos and confusion surrounding the first weeks of the COVID-19 pandemic provided fertile ground for cybercriminals to launch their scheme of deception.

Employees working away from the office during the “Safer-at-Home” orders shifted their home networks to include professional responsibilities and that increases the opportunity for hackers to commit fraud. A home network is another entry point for them to infiltrate and steal business data.

Right now, security experts say emails containing references and content related to COVID-19 could be fake, even those that quote a reputable business or source. An email that asks for your password, they say, is a trap.  It’s recommended to not click on any provided links in emails related to COVID-19. Instead, experts advise going to the website of the credible source to find the information.

IPS has seen more scams related to email phishing attacks that trick people into downloading malware or sharing sensitive information in recent years. As more companies are targeted, our team is trained to guard against it. We recommend the following:

  • Make sure an email is authentic by verifying that it’s from someone you trust. Ask the person to call you or if possible, contact them in person to confirm the details of any requested change
  • If an employee falls victim to a scam, work with IPS to protect your payroll portal, which would now be in jeopardy
  • Remind employees to check their personal financial accounts on a regular basis; look for missing payments or any other potential discrepancies

IPS implements strict procedures for our customers’ direct deposit, off-run payroll and any changes that we would be making to your system. Contact your IPS representative to learn more.