In the digital world, phishing scams are evolving, becoming smarter and more dangerous for businesses. Recently, Microsoft issued a warning about a new type of phishing attack leveraging trusted cloud services like SharePoint and OneDrive.

While these platforms are generally secure, cybercriminals have found ways to exploit privacy settings, bypassing security checks to carry out their schemes. Here’s how these sophisticated scams work and, most importantly, how you can protect your business from falling victim.

How These Scams Operate

Hackers gain access to your cloud storage by stealing login credentials, often purchased from the dark web. Once inside, they upload deceptive files designed to mimic legitimate ones, such as a fake Microsoft 365 login page.

These files are shared as “view-only” or access-restricted, appearing highly authentic and specific to your team. When unsuspecting users open these files or click on malicious links in emails, the consequences can be devastating.

Scammers might gain unauthorized access to your systems or install malware, enabling data theft, system disruption, or worse. Recovering from such attacks is not only costly and time-consuming but can also severely damage your reputation.

Protecting Your Business

Here are practical steps to safeguard your business:

  1. Educate Your Team: Ensure employees are aware of these threats and are cautious about emails, even those seemingly from trusted sources.
  2. Verify Before Clicking: Double-check the sender’s identity before opening shared files. If something feels suspicious, confirm with the sender directly.
  3. Implement Multi-Factor Authentication (MFA): Adding a second layer of security, such as a one-time code, helps secure access to your systems.
  4. Keep Security Software Updated: Regular updates ensure your defenses are equipped to handle the latest threats.

If you’re looking for more detailed guidance on safeguarding your business, check out our Cybersecurity Cheat Sheet: Essential Tips to Protect Your Business. It’s packed with practical advice to help you stay ahead of the latest cyber threats.

Stay Ahead of Cyber Threats

Proactive security measures, employee training, and system monitoring can significantly reduce your vulnerability to phishing scams.

Would you like expert help to protect your business? Schedule a conversation with our CEO today and explore how we can enhance your security strategy.