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International (Global) Strategies | Articles

Simple steps education providers can take to help mitigate email compromise

Fraud is a human threat are you prepared?
Fraud is a human threat are you prepared?

The threat of fraud, and particular cybercrime, has been all too prevalent during the pandemic. However, what is also noticeable is the continuing threat of business email compromise for Australian education providers. With its proximity to the nexus of many such scams education providers remain rich pickings for those behind them. But, despite the constant threat, there are simple steps education providers can take to help mitigate the threat as follows:

  1. Ensure your staff at all levels are conversant with the red flags associated with business email compromise
  2. Have both verification steps and approval processes in place in respect of open invoices which may potentially attract such fraudster
  3. Always verbally confirm with your supplier any change of beneficiary instructions in relation to a purchase
  4. Never act on the instructions/detail within an email without verbally verifying its veracity
  5. Always conduct extensive due diligence if dealing with a new supplier

Business email compromise can be stopped. Despite the figures quoted annually and alleged sophistication, it remains a crime which at its heart relies on organisations not taking precautionary steps to help mitigate the risk. Don’t be the next victim.

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