Quiz #3:

Protecting your small business from phishing attacks

Cyber security awareness brought to you by the Canadian Bankers Association — Helping you stay cyber safe —

The reality of today’s increasingly digital-first economy means that businesses, both large and small, use the Internet to manage their operations, serve their customers and grow their businesses.

Cyber criminals target small businesses because often these companies might not have the resources to implement robust cyber security safeguards.

As a small business owner, you need to remain vigilant about cyber security to reduce the risks associated with cyber threats.

Stay in the know!

The CBA publishes a regular Fraud Prevention Tip email newsletter. Sign up to learn about the latest frauds and scams.

How much do you know?

Employees are an essential line of defense when it comes to protecting your small business.

True

It’s important to build regular and ongoing basic cyber security training programs for your employees into your cyber security plan.

False

It’s important to build regular and ongoing basic cyber security training programs for your employees into your cyber security plan.

Actually, that's incorrect.

You've got it!

Every six months is an appropriate schedule for backing up the data for your business.

True

A data backup is used to restore files that are lost or damaged, possibly by a cyber attack. Backups should be done at least daily, perhaps hourly if appropriate for your business. Without a backup plan in place, you could risk losing information critical to your business.

False

A data backup is used to restore files that are lost or damaged, possibly by a cyber attack. Backups should be done at least daily, perhaps hourly if appropriate for your business. Without a backup plan in place, you could risk losing information critical to your business.

Actually, that's incorrect.

You've got it!

The “CEO Scam” is a form of targeted phishing called “spear phishing” or “whaling” in which employees of a business are sent emails that look like they come from the CEO or other senior executive.

True

These sophisticated and sometimes very convincing emails will attempt to trick the employee into wiring money to a third party and include language making the request sound urgent and confidential. The Canadian Anti-Fraud Centre estimates that $54 million was lost in 2021 to Canadian businesses that were targeted by spear phishing.

False

These sophisticated and sometimes very convincing emails will attempt to trick the employee into wiring money to a third party and include language making the request sound urgent and confidential. The Canadian Anti-Fraud Centre estimates that $54 million was lost in 2021 to Canadian businesses that were targeted by spear phishing.

Actually, that's incorrect.

You've got it!

A Virtual Private Network (VPN) is an effective tactic to build into your business’ cyber security plan.

True

A VPN is a great addition to your cyber security plan. If you or your employees will be accessing your business’ network remotely, setting up a VPN will provide a secure and encrypted connection to your sensitive business network.

False

A VPN is a great addition to your cyber security plan. If you or your employees will be accessing your business’ network remotely, setting up a VPN will provide a secure and encrypted connection to your sensitive business network.

Actually, that's incorrect.

You've got it!

If you think business banking information was obtained through a phishing attack, it’s important to report the incident immediately to your bank.

True

Report the incident immediately to your bank to protect your business accounts from being accessed fraudulently.

False

Report the incident immediately to your bank to protect your business accounts from being accessed fraudulently.

Actually, that's incorrect.

You've got it!

CBA Resources

1. Protecting your small business from cyber threats with the CBA’s Cyber Security Toolkit

1. Protecting your small business from cyber threats with the CBA’s Cyber Security Toolkit

https://cba.ca/small-business-cyber-security-toolkit

2. Learn how to spot and protect your business against the CEO scam

https://cba.ca/how-to-spot-ceo-scam

3. Learn how you and your employees can spot Business Email Compromise (BEC) Fraud

https://cba.ca/protecting-your-business-
from-business-email-compromise-fraud

What banks are doing to protect you from frauds and scams

Banks take extensive steps to protect your money and personal information and provide a wide range of fraud prevention information for customers. It is important to remember that fraudulent e-mails, voicemails and texts sent out by criminals may look and sound like they come from banks or retailers, but they are scams and should be reported to the company being spoofed and deleted.

To report a fraudulent email, be sure to send the email as an attachment.

The voice of more than 60 domestic and foreign banks

The Canadian Bankers Association is the voice of more than 60 domestic and foreign banks operating in Canada and their 280,000 employees. It also to provides governments and others with a centralized contact to all banks on matters relating to banking in Canada. The CBA advocates for public policies that contribute to a sound, thriving banking system to ensure Canadians can succeed in their financial goals.

The Association promotes financial literacy to help Canadians make informed financial decisions and sponsors two financial literacy seminar programs: Your Money Students and Your Money Seniors.

The Association also works with banks and law enforcement to help protect customers against financial crime and promote fraud awareness.