Curated Insights

Cybersecurity never sleeps. Each month we share the latest threats, trends, and simple steps your business can take to stay protected. In February, the headlines included a wave of SMS phishing scams, the growing role of AI in cybercrime, and new tools to fight back.

Let’s get into it.

Emerging Threat: SMS Toll Phishing

Recent reports reveal a surge in SMS toll phishing scams launched by Chinese threat actors. These texts impersonate legitimate agencies to steal payment data, creating serious risks for banks and their customers.

Impact on Businesses

• Potential financial losses and fraud disputes
• Higher operational costs from recovery and remediation
• Erosion of customer trust

Actionable Advice

• Educate customers about phishing red flags
• Make official texts stand out from scams (e.g., branded sender IDs)
• Add reminders in MFA texts that codes should never be shared
• Use customer mailers and banners to highlight current threats

Read the Krebs On Security Report >

Industry Trend: AI on Both Sides

Both businesses and cybercriminals are turning to artificial intelligence. Attackers are already leveraging AI to generate sophisticated phishing emails, launch automated malware, and bypass traditional defenses.

The old rule of “look for typos” is no longer enough, employees and customers need more advanced awareness training to recognize modern attacks.

3 Actionable Steps for Small Businesses

Here are three simple, high-impact ways to strengthen your defenses:

1. Implement Multi-Factor Authentication (MFA) Everywhere

Protects accounts even if passwords are compromised.

• Require MFA for all employee logins to email, cloud services, and critical systems.
• Use app-based authenticators (Google Authenticator, Microsoft Authenticator) rather than SMS codes.

2. Enforce Least Privilege Access

Minimizes the risk of insider threats or compromised accounts accessing sensitive data.

• Regularly review user roles and permissions.
• Only grant employees access to the tools and data they need.
• Use role-based access control (RBAC) tools to automate this.

3. Verify Devices and Patch Regularly

Outdated or untrusted devices can open the door to attackers.

• Keep an up-to-date inventory of devices connected to your network.
• Patch and update all devices on a regular schedule.
• Use endpoint detection tools to monitor device health and compliance.

Spotlight: AI Fighting Back

Not all AI news is bad. EU mobile provider O2 has created dAIsy, an AI-powered bot that keeps scammers tied up in endless, time-wasting conversations. By wasting their time, dAIsy helps prevent real customers from being targeted.

Let’s Secure Your Business Together

Cybersecurity threats are evolving quickly. We help banks and businesses stay ahead of attackers by building frameworks tailored to your unique risks.

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