8 Ways SMBS Can Prevent Phishing Attacks

It’s estimated that over three billion phishing emails are sent daily, making them a significant threat to small and mid-sized businesses (SMBs). Unfortunately, phishing often leads to business email compromise (BEC), which the FBI has said is companies’ primary source of financial loss.

What’s more, the attacks are becoming more sophisticated by the day, targeting companies and individuals alike. Threat actors are now utilizing AI to automate the creation of convincing phishing emails.   

SMBs must practice proactive prevention to protect their financial assets, business operations, and sensitive data. Following the phishing prevention tips below should help your organization stay vigilant against these persistent threats. 

What is phishing?

Phishing generally begins with someone pretending to be a person or an organization you trust. Once they’ve established trust, they’ll attempt to get you to give out information or use a link/file to infect your devices with malware.  

Common phishing red flags

Even though phishing attacks are becoming more sophisticated, you can still train your employees to spot certain telltale signs. Here are some things to look for when identifying phishing attacks: 

• Urgency and pressure tactics
• Message inconsistencies, including misspellings and poor grammar
• Low-quality visuals like blurry brand logos
• Messages that come when team members are out of the office 
• Requests to make financial decisions or changes 
• Messages asking you to do something unusual or outside normal operating procedures 
• Messages that require you to click a link to gather more information  

Always exercise caution with emails like these, as there’s a good chance they are phishing attempts or related to other malicious activities. 

Phishing prevention tips

Preventing phishing attempts goes far beyond simply monitoring emails. It requires a comprehensive, multi-faceted strategy that addresses various aspects of cybersecurity. Like other cyberthreats, phishing attacks use methods that are constantly changing and becoming more sophisticated. So, your team must always stay alert and adaptable while simultaneously developing mitigation plans and carrying them out if a phishing incident occurs.  

To that end, here are eight cybersecurity tips to help you prevent phishing: 

1. Seek direct confirmation 

Whether it’s the email itself or the message it contains, if anything seems off to you, don’t ignore your gut. Instead, reach out to the company or individual directly by other means (phone, a valid email address you know and trust their website) so you don’t accidentally click on a malicious link or respond to a bad actor.

2. Implement comprehensive email security solutions 

Implementing comprehensive email security services is an effective way to block phishing emails. Advanced email filters and spam protection tools can identify and manage malicious content. 

3. Regular employee training and simulated phishing exercises 

It’s also important to educate employees on the most current phishing attacks and how to handle them if they’re targeted. One way you can do this is to send out fake phishing emails to team members and see which ones they fall for or don’t. If anyone takes the bait, let them know and retrain them on your security policies and what to do should they get another phishing email. Simulated phishing tests will help keep your team vigilant and prepared to ward off any attacks. 

4. Use multi-factor authentication (MFA) 

MFA adds an extra layer of protection—even when login credentials have been compromised—by requiring users to verify their identity through multiple methods, such as a text message or authentication app. This is particularly important for protecting professional email accounts, which are common targets for phishing attacks.

5. Keep software and systems updated 

This is a simple yet essential step in preventing the impact of phishing emails. Companies often release updates that include bug fixes and patches for security problems. Regularly updating software helps prevent vulnerabilities that phishers can exploit. Whenever possible, set up automatic updates to streamline the process. 

6. Set up network monitoring and incident response protocols 

Developing an incident response plan can help minimize damage in the event of a phishing attack by outlining clear steps to contain and remediate threats. In addition, advanced monitoring tools will alert you to any unusual behavior so you can rest assured that all potential issues are addressed quickly. 

7. Limit access to sensitive information 

The more information employees have, the greater the risk of accidental disclosure.  IBM reported that 95% of cyberattacks were caused by human error. To mitigate this risk, embracing the concept of least-privilege access is essential. This approach only provides access to sensitive information on a need-to-know basis. Restricting access minimizes the risk of internal phishing attacks, as fewer individuals are privy to sensitive information.  

Implementing role-based access controls (RBAC) can also help ensure that employees only access information relevant to their job functions. They don’t need access if the information is not part of their job function.

8. Secure communication channels 

Encrypted communication helps guarantee that data remains safe during transmission, reducing the risk of exposure. To further strengthen security, consider adopting secure file-sharing and communication platforms that provide end-to-end encryption. Then, you can rest easy knowing that only authorized parties can access your information.  

Stay vigilant and use the right tools. 

Don’t get caught off-guard. Follow the phishing prevention tips outlined above and established industry best practices, including deploying comprehensive email security services, educating employees about phishing risks, and actively monitoring for threats. 

Your best defense as an SMB is to implement a multi-layered approach that combines advanced technology, employee training, and regular monitoring. If you’re looking for cybersecurity management software, contact us today to see how ConnectWise can keep your company safe and secure. 

Information used in this article was provided by our partners at ConnectWise.