How Australian Businesses Can Shield Themselves from Email Phishing

According to the Australian Taxation Office, phishing by fraudsters through email and SMS is on the rise, especially during the tax lodging season. Fraudsters, pretending to be the ATO, send emails and sms that encourages people to click on the link. These messages are about their tax lodging status.

What is Email Phishing?

Email phishing is a malicious tactic employed by cybercriminals to trick individuals and organizations into divulging sensitive information, poses a significant threat to businesses across the globe. Australian businesses, in particular, are not immune to this cybercrime.

How Do Phishing Scams Operate?
One of the most prevalent phishing tactics is the spoofing of legitimate email addresses and domains. Phishers often impersonate trusted individuals or organizations, such as banks, government agencies, or IT support teams, to create a sense of urgency or legitimacy. To combat this, Australian businesses should invest in email authentication protocols like Sender Policy Framework (SPF), DomainKeys Identified Mail (DKIM), and Domain-based Message Authentication, Reporting, and Conformance (DMARC). These protocols verify the authenticity of emails, making it harder for phishers to spoof legitimate senders.
Another common phishing technique involves the use of phishing links that redirect users to malicious websites designed to steal personal information or infect devices with malware.

Social Engineering
Social engineering tactics, such as phishing emails that create a sense of urgency or fear, are also employed by cybercriminals. These emails often contain threats or demands, urging recipients to take immediate action. To counter this, Australian businesses should encourage employees to be cautious of emails that request urgent attention or contain unusual or suspicious requests. If in doubt, employees should contact the sender directly through a verified channel to confirm the legitimacy of the request.

Information is Power

To mitigate this risk, Australian businesses should educate themselves and their employees about the importance of hovering over links before clicking on them. This allows users to verify the actual URL and identify any suspicious or unfamiliar domains. Additionally, organizations can implement URL filtering solutions to block access to known phishing websites. This can be done by having software such as firewall for mailboxes. Google’s gmail and Microsoft’s Outlook under Office 365 are proactive in shielding inboxes from malicious emails.

Finally, regular security awareness training is essential for protecting Australian businesses from email phishing attacks. By educating employees about the common tactics used by phishers and providing them with the necessary tools and knowledge to identify and report suspicious emails, organizations can significantly reduce their vulnerability to these threats. Additionally, implementing multi-factor authentication (MFA) adds an extra layer of security by requiring users to provide additional forms of verification, such as a code sent to their mobile device, before accessing sensitive information.
By adopting a comprehensive approach that includes email authentication, user education, and security awareness training, Australian businesses can effectively protect themselves from the ever-evolving threat of email phishing.