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Businesses Warned About Phishing Scam Heading To UK

By 25th August 2022Blog

British businesses have been warned a phishing scam could be heading this way from the US. 

Floyd County school district in Georgia recently received an email from a company pretending to be Ben Hill Roofing, which had previously done work for an educational facility within the area. 

It requested payment for the project and the district nearly went ahead with the transfer of $200,000 (£164,404) when the real roofing company submitted its invoice. 

Floyd County Schools has been made aware of a phishing incident. This cyber-attack resulted in funds being stolen from the school system by an outside source,” the district said in a statement. 

While this occurred across the Atlantic, cyber security firm TitanHQ has warned Brits similar ones could be making their way to the UK soon. 

Chief executive officer of TitanHQ Ronan Kavanagh was reported by the Lancashire Telegraph as stating: “If a vendor or customer you are familiar with contacts you via email, asking you to change their account payment details, or anything else that seems suspicious, then be sure to reach out to your direct contact at the company to make sure the request is legitimate.”

The security firm also reported that 85 per cent of companies have faced up to 17 different online breaches in the last year alone, highlighting the urgency of improving cyber security. 

Online trading organisation Payback also revealed an average of 40,586 fraud and cyber-crime incidences every month, amounting to an annual loss of £2.5 billion across the UK, reported City AM

 

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