Written By Ziften CEO Chuck Leaver
There are numerous business seasons each year and it is necessary that leaders of organizations comprehend exactly what those time periods suggest for their for their cyber security defenses. In the retail sector the Christmas shopping season represents a spike in customer spending, but it also represents a great time for cyber wrongdoers to attempt and take consumer data. When tax season shows up, organizations are busy preparing everything for government agencies and accountancy companies and this can be a vulnerable time for cyber attacks.
Tax Season Represents An Opportunity For Cyber Crooks
With income tax returns now gone digital there is no need for US citizens to mail their income tax returns by the due date as all can be done using the Internet. This is definitely much faster and easier but it can present security risks that companies need to be aware of. When there are significant quantities of data being transferred a golden chance exists for hackers to gain access to details that belongs to the organization.
There have been a variety of cyber security attacks during tax season before, and this has raised concerns that the hackers will be ready and waiting once again. The recent Anthem breach has actually led market experts to predict a boost in tax fraud hacking in the future. In this breach that impacted 80 million individuals, there was a massive amount of individual data such as social security numbers stolen according to Kelly Phillips Erb who is a Forbes contributor.
In Connecticut, residents have been advised by the Department of Revenue Services to submit their tax returns early, and act ahead of the cyber criminals so that their data is not discovered and their identity taken.
Deceitful Activity Identified By Tax Software Application
To make matters worse, there have actually been some security interest in one of the country’s most popular tax software application brand names. U.S.A Today revealed that TurboTax representatives discovered an increase in cyber criminality related to their software. A variety of unauthorized users had been using taken individual data to submit fake income tax returns with state governments. The business took the preventative measure of briefly stopping all users from submitting state taxes till an investigation internally was completed.
This cyber criminal offense was subsequently proved to be unconnected to the TurboTax software, however the event reveals what a challenge it is for cyber security specialists to stop incidents of tax scams today. Even if the TurboTax software was flawed, it most likely wouldn’t affect organizations much, considering that they utilize accounting companies to handle their tax returns. Accounting companies likewise have to do exactly what they can to prevent a cyber attack, which is why companies need to be proactive and safeguard their delicate data.
Remaining Safe At The Business Level
When it is time for big companies to prepare their tax returns they will utilize a large number of accountancy personnel and the services of external companies in all likelihood to sort out their financial details. When this is happening, more attack verticals are open to cyber wrongdoers and they might infiltrate a company undiscovered. If they are able to do this then they will have access to numerous files associated with business documents, monetary data and employee records.
If you want to protect your company in the coming tax season, focus on best practices of cyber security and enact defensive measures that completely cover enterprise environments. Standard tools like firewall programs and antivirus programs are an excellent place to start, but more sophisticated options will be needed for those cyber attacks that can happen undiscovered. Endpoint threat detection and response is vital here, as it allows company security teams to discover suspicious activity quickly that might have gone undiscovered. If such an attack was to penetrate the network then this could be the start of a large scale security breach.
Cyber security procedures are continually evolving and aim to keep pace with the techniques that hackers employ. Standard network level defenses might capture a great deal of cyber attacks but they will not have the ability to avoid all of the attacks. This is where high quality endpoint threat detection and response is needed. It will supply visibility across all the endpoints of a company, and can precisely discern between malicious activity and something spurious. This will make it possible for security groups to better safeguard the data of the organization.