Awareness of Cyber Criminals: Hacked E-Mail Account Leads to Bank Fraud

by swisscham in General Interest

Whether you are running a small or large company, attacks from hackers can have a devastating effect on your business. An email address that is used for business purposes can be highly valuable for cyber criminals. The Swiss Business Hub China has recently witnessed a typical cyber-attack on the business of a Swiss SME. Since years this Swiss SME was purchasing goods from China. Its partner – a Chinese SME was using a Gmail account for daily business purposes. Both sides were satisfied with the cooperation and had trust in each other. The hacker used the Gmail account to communicate with all the partners of the Chinese company and requested money to be transferred to a new bank account opened at a new bank in England. Nowadays hackers are using more and more sophisticated methods to attack businesses and other organizations. The financial costs of being hacked can vary greatly, depending on the severity of the attack, the size of the company and other factors. The attack may also result in loss of important information, including client database. It needs to protect your company against a cyber-attack targeting your Chinese partner.

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