Small Businesses The Perfect Target for Tax Season Scams

As the April 15 deadline for tax filings approaches, scammers are targetting small businesses with tax-related phishing emails and fake websites.

Bad actors have already started sending out emails pretending to be tax resources and hacking legitimate, often small-business-owned websites in their efforts to get a hold of sensitive tax information, according to research published by Sherrod DeGrippo, senior director of threat research at enterprise security company Proofprint.

“If you have the word ‘tax’ in your domain name, you’re a target this year,” DeGrippo wrote. “And while the tax-themed email attacks hit businesses in all sectors, we also saw financial firms and construction industries targeted disproportionately. The construction industry targeting, in particular, is a reminder that no one sector is immune.”

Bad actors will often use popular news trends in scam emails to get victims’ attention so they give up information or download malware-containing files onto their devices. Sometimes scammers even track the online behavior of their targets to study their interests before they send an email or text in an attempt to increase the chance of gaining user trust.

But wait, there’s more. Tax season isn’t the only threat hitting small businesses, the latest research from Bottomline Technologies, businesses showed the fraud threat is on the rise. Meanwhile, Forbes reported separate analysis from North Carolina State University warning that as pressure mounts for chief financial officers to hit their financial targets, they’re less likely to report fraud.

Click here to read more.

SMB Consortium

SMB Cybersecurity Consortium is an online community built by small business leaders for small business leaders. We provide education, free resources, and support services for businesses that are either under attack right now or those looking to keep hackers at bay.

Leave a Reply