Recently, there was a rise in cybercrimes related to the closing of Silicon Valley Bank (SVB). Threat actors go after businesses and sometimes use them in their illegal activities.

SVB was the 16th largest bank in the U.S. The bank worked with tech giants like Buzzfeed, Roblox, and Roku. However, global inflation and a deposit run caused regulators to close the bank on Friday, March 10, 2023.

Hackers are using SVB-related content to manipulate people's emotions. Analysts are finding more phishing attacks connected to the SVB closure, and new threats appear daily.

How Hackers Set Up SVB-related Attacks

Cybercriminals started buying fake SVB domains shortly after SVB closed. This is how they set up their SVB-related attacks. The attackers then made and tested phishing flows before starting their campaigns.

More than 62 new domains were set up for SVB-related attacks, and there were 200 phishing scams, most of which targeted businesses in the U.S.

The Public Response Helped Hackers

Unfortunately, the public's response to the SVB crisis may have been unwittingly aiding cybercriminals. Attackers used websites that listed affected SVB customers to find targets.

Also, emails from companies switching to new banks can look like phishing emails, which can cause confusion and make the risks higher.

Getting Ready for the Wave of SVB Fraud

To counter SVB-related attacks and protect your business, you should:

1. Raise employee awareness about phishing and cyber threats.
2. Provide regular security training.
3. Implement email security solutions with anti-phishing features.
4. Use multi-factor authentication.
5. Keep software updated to prevent vulnerabilities.
6. Encourage strong, unique passwords and start using password managers.
7. Monitor the company's online presence for fake domains or websites.
8. Develop and maintain an incident response plan.
9. Periodically review and update security processes.
10. Collaborate with cybersecurity experts for audits and vulnerability assessments.

The recent failure of SVB has given cybercriminals a chance to take advantage of businesses and individuals. To protect yourself from SVB-related attacks and other cyber threats, you need to put cybersecurity at the top of your list of priorities.

You can shield your company from these attacks by being proactive, improving security infrastructure, and using your resources wisely.

 

If this tip helps and you would like to donate click on the button. Thanks In Advance

________________________________________________________________________________________________________

"Fortune Favors, Who Value Time over Money!"

"TeQ I.Q. was the 1st IT Company to Deliver Cloud Solutions since 2003"
Tech issues taking up your Time?
"TeQ I.Q. Makes Your Technology Secure and Protected"
Do you have Tech Frustrations like your Computer, Internet, Phone, Cellphone, Camera, TV, Car?

    "Afraid of Online Hacking?"

"SECURE your Internet and Devices with before it's too late!"

For more info go to https://www.teqiq.com/vpn/

"We Take Away Your Tech Frustrations and Give You the Free Time You Deserve!"
Call Robert to ask all your Technology questions.

For Free Consultation Call Now Robert Black at (619) 255-4180 or visit our website https://www.teqiq.com/

Chase Bank and Others Trust TeQ I.Q. with their IT and TeQnology so can you!

Used with permission from Article Aggregator