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Since the onset of Covid-19 and the current global crises, accounting firms have experienced escalating cybersecurity threats and malicious cyberactivity. The Federal Bureau of Investigation’s (FBI) 2020 Internet Crime Report noted the FBI received a record number of complaints from the American public in 2020 and noted cybercrime is trending upward. According to the FBI’s report, business email compromise schemes are reported to be the costliest. CPA firms are at risk of ever-increasing cybersecurity threats because of the sensitive data CPA firms possess about their clients, as well as information about their clients’ employees, vendors and customers. Cyber criminals are on the prowl for any breaches in cybersecurity practices; which is why it is important to understand what account takeovers are, and how this type of cyberthreat can greatly impact a CPA firm.
An account takeover is a type of online fraud or identity theft in which a cyber criminal is able to illegally gain access to a user’s account credentials. A hacker acts as the real user and is able to “take over” an online account in order to complete malicious acts. Cyber criminals use various techniques to complete account takeovers.
There are myriad ways account takeovers occur. Some account takeovers are more sophisticated than others. Below are some of the more frequent methods of account takeovers.
Hackers have countless techniques for committing cybercrime. Cyber criminals target diverse accounts and businesses in account takeovers. An account takeover can happen to individuals or businesses—regardless of the size of the entity.
Cyber criminals have countless reprehensible reasons for account takeovers, as noted below.
The threat of account takeovers continues to evolve as the number of scenarios cyber criminals can use to gain access to victim’s accounts also evolves. It is important for C-suite executives and tech experts to understand their cybersecurity vulnerabilities.
Accounting firms, with their access to sensitive financial and immense personal client data, are a prime target for cyber criminals. A knowledge of cybersecurity vulnerabilities can help accounting professionals adopt a heightened posture with respect to cybersecurity in order to fight against account takeovers. It is important to use preventive and predictive cybersecurity practices to guard against cyberthreats penetrating a network in order to keep sensitive and confidential data secure.
C-suite executives and tech professionals recognize the profound impact an account takeover would have on a CPA firm. It could be devastating financially and legally. It might also tarnish a firm’s long-term reputation and damage relationships with clients. They understand the importance of trusting a professional cloud-based IT firm such as Cetrom.
Cetrom is a well-established IT provider that is 100 percent focused on the cybersecurity of CPA firms. The company’s cloud-based services and cybersecurity measures are designed specifically to protect CPA firms from cyber criminal account takeovers. Cetrom’s cloud-based platform works to prevent, detect, and combat destructive viruses as well as malware and ransomware from malicious actors attempting account takeovers.
Cetrom offers advanced artificial intelligence security technologies to help prevent such cyberattacks. They provide cybersecurity training for employees, ongoing network support, and 24x7x365 cloud accessibility. Cetrom recognizes that the cybersecurity expertise and support provided to their CPA firms is both preventive and predictive, evolving to address the latest schemes and risks presented by cyber criminals.
Contact Cetrom today to learn more about how we can help answer your cybersecurity questions and help protect your CPA firm from account takeovers and cyber criminals.
Cetrom Support fixed all of my problems, their engineers are very professional, courteous, friendly and very efficient. If all customer service out there was like...- Mid-sized