Elaborate email scams are nothing new. Barbara Corcoran, a judge on the TV “Shark Tank,” recently lost nearly $400,000 in an email scam that tricked her staff. Showing, once again, the importance of email security.
You might ask, how could this happen? Well, according to Corcoran, someone simply acted as her assistant and sent an invoice to her bookkeeper for a renovation payment. Corcoran invests in numerous real estate properties. So, her bookkeeper had no reason to be suspicious about the sum and wired it to the address.
However, the money was never wired to Corcoran’s assistant. It was wired to the scammer, who imitated the assistant’s email address, except for the misspelling of one letter. This tiny mistake went unnoticed until the bookkeeper emailed the assistant’s correct email address for a follow-up. And of course, this was the first time Corcoran’s assistant had heard of this, which then rang the alarm bells for a problem.
Unfortunately, the scammer disappeared and Corcoran is out exactly $388,700.
Scams like this are very common. In 2019, nearly 30,000 people reported being a victim of that sort of scam. In total, a whopping $50 million in losses were reported.
Phishing attacks, in general, are common methods of stealing usernames, passwords and money. The hackers pretend to be a trustworthy source, like an assistant in Corcoran’s case, and convince someone to share some personal data. But it is important to check the sender’s email address, because there could be a clue as to the authenticity of it. So be sure to check everything before clicking on a link.
Email Security With MSEDP
Google has rolled out security protections that warn users of potentially unsafe emails. But you can never be too safe. Here at MSEDP, we offer email solutions and security to help our clients avoid email scams. We are a trusted cloud email provider and can help you manage every aspect of your emails. Our premium filtering keeps your inbox virtually free of spam and viruses. And of course, we will never read, sell, or scan your email content for advertising purposes.
You can reach out to the IT experts at MSEDP for more information about all of the email security options we offer. We have years of experience helping clients with these issues. For more information about email security and what you need to do to be safe, please contact us today. When you reach out. one of our account managers will provide you with all the necessary details. The number for our office is (631) 761-7600. Call us any time!