If you’re like most small business owners, you probably don’t believe that something as small as a piece of malware could threaten your business. After all, what could you possibly have that malware could want? And why would a hacker pick on you when they have so many bigger fish to go after?
Maybe this story will change your mind. A very small, nine-person business in southern California recently announced that it would have to close down suddenly and permanently after a small piece of malware known as a banking Trojan managed to slip on to the computer of one of its employees.
The Trojan was then able to grab the username and password for the company’s bank account and steal $1.5 million from the business. To make matters worse, the business was an escrow company, which meant that most of that money was being held on behalf of clients. With no way to replace all that lost money on such short notice, and no obligation by the bank to reimburse the business for its losses, California regulators had no choice but to quickly step in and close down the business.
And according to regulators, this may be the third escrow firm this year alone, and just in California, to suffer massive losses as a result of similar Trojans. According to the FBI, one of the gangs behind this particular Trojan has stolen at least $20 million from small businesses.
Some of these Trojans are so sophisticated they’re even able to defeat the security and authentication systems created by banks to protect against them. And others are able to defeat the antivirus software on many personal computers.
The three favorite places for Trojans to hide are personal computers, smartphones, and websites. In fact, of the thousands of websites SiteLock discovers every single day with malware infections, one of the biggest culprits is Trojans.
The war against Trojans is never ending but there are some weapons available to your business:
Protect yourself from a Trojan by partnering with the leader in website security. SiteLock offers a portfolio of affordable and automated solutions. To learn more call 855.378.6200.