Protect Your Business: 5 Common Fraud Scenarios to Watch Out for in 2024

More and more businesses have invested in fraud prevention technology to help protect their data, their employees and their customers from cyber threats. However, companies remain vulnerable thanks to a common weak point – its people.
Phishing

In this era where cybercriminals increasingly target the human psyche through sophisticated social engineering tactics, technology can fortify your defenses but it’s the vigilance and awareness instilled in your employees that serve as your human firewall and your frontline of defense. You can invest in the most advanced technology available, but without adequately trained staff, your defenses remain vulnerable to exploitation.

Although your defenses today may be stronger than ever, modern cyberattacks against businesses use an element of social engineering to gain a foothold. In other words, they tap into the vulnerabilities of the people working with or for your business to steal money, data or both. After all, people are busy and typically eager to please – and may respond to an email without giving too much thought to who sent it, why they’re asking for something slightly unusual or whether the link is safe to click. 

That’s why it’s important for employees to be aware of some of the common ways they could be tricked into giving up a piece of information that would be useful to a cyber-criminal.

RBC partnerships with Kobalt.io

As Canada’s largest bank by market capitalisation, RBC has partnered with Kobalt.io to offer cybersecurity expertise and solutions to help entrepreneurs protect their business, including its sensitive customer and financial data – an absolute necessity in an increasingly digitally-enabled world.

Read on to learn more.

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