Cybersecurity has become more important than ever, especially with the rise in cyberattacks. However, much focus is put on computers, laptops, servers, etc. Mobile phones and tablets seem to be overlooked when talking about cybersecurity.
Today smartphones are integrated into the modern workforce as driven by work at home and remote working. To enhance mobility, these devices are installed with business mobile applications that enable access to company systems. They enable users to conduct different activities on-the-go, such as banking, connecting to company networks, business transactions, and other social operations. However, this is raising concerns about the security of sensitive corporate data and other personal information stored on phones.
Despite these concerns, businesses continue to be lax on enforcing solid measures to protect company data and networks.
Since the phones have less protection than computers, they have become an easy target for cybercriminals who are using different methods to gain access to phones.
Security Threats to Mobile Devices
Phishing is one common attack vector that uses fake emails and text messages to trick users into clicking links that download malware onto a user’s smartphone. For instance, cybercriminals may use SMS to mimic legitimate companies and send messages that contain harmful links.
Recently, cybersecurity researchers cited a WhatsApp phishing campaign that attempts to lead WhatsApp users to install an information-stealing malware. The senders impersonate the WhatsApp notification service and send an email to a user claiming they have received a private voicemail. A user who is unaware of this ploy and clicks on the play button in the email will download malware onto their phone.
Attackers also take advantage of data leakage through malicious mobile apps. Users can get these apps by downloading fake versions of real apps, which are infected with malicious code that steals personal data stored on a phone.
Data can be stolen through legitimate solutions, as researchers found at the end of October 2021, when they discovered a banking trojan horse known as SharkBot in six phoneapps. These apps were designed as legitimate antivirus solutions. The malware could bypass multifactor authentication to steal credentials and banking information, and even transfer money. Although the six dangerous apps have since been deleted from the Google Play store, this goes to show that hackers do not tire of looking for ways to infiltrate mobile devices.
Mobile phones also are affected by web-based mobile security threats when users access affected sites that download malicious content onto a device.
Other security threats to phones include using unsecured public WiFi, lost or stolen mobile devices, mobile spyware, rooting malware and jailbroken phones that become more prone to attacks.
How to Keep Safe
Since phones are now primarily being used as business tools, business owners need to rethink their mobile strategies for both employer-provided devices and bring your own device (BYOD).
Businesses that deploy mobile device management (MDM) tools will block potentially harmful apps, automatically update software, and remotely wipe off data on stolen or lost phones.
Users are the weakest link in security issues; hence, a need for regular security risk-training on social engineering by learning how to differentiate suspicious emails and SMS messages. Users also need to learn to avoid downloading applications from third parties and other untrusted sources and use only authorized app stores. Furthermore, user training should include the dangers of public Wi-Fi, the importance of turning off a phone’s Wi-Fi when not using it, and locking the device with a strong password or biometrics, such as fingerprint detection.
Users also should avoid granting broad app permissions, especially for free apps that may be sending sensitive data to remote servers, where it can be used not only by advertisers but also by cybercriminals.
Keeping device operating systems and other software updated will reduce attack possibilities since cybercriminals use old bugs to hack devices.
It is important to install anti-malware and anti-virus programs on mobile devices since they now face the same threats as computers and laptops.
Businesses can introduce a mobile device policy that employees sign before accessing company resources on their devices or when receiving employer-provided devices. Such a policy includes the dos and don’ts of using phones.
Regular security testing is crucial for enterprise applications as it helps expose vulnerabilities in apps and especially those developed by third-party agencies to ensure the security meets required compliance guidelines.
Conclusion
Mobile phones now have capabilities similar to computers and store a lot of personal and sensitive data. As more devices access business systems, it creates more endpoints that put the business at risk of a data breach. Therefore, businesses of all sizes should take mobile security seriously through strong defensive measures, which can be enhanced with enterprise mobile security solutions.
Suspending Normal Trade Relations with Russia and Belarus Act (HR 7108) – This legislation suspends normal trade relations with Russia and Belarus. The president may restore normal trade relations pending Congressional approval, and this authority is scheduled to end on the last day of 2023. The bill also permanently authorizes the president to impose visa- and property-blocking sanctions based on violations of human rights, as well as increase duty rates on products from these countries. These actions are designed to condemn Russia’s invasion of Ukraine by urging other World Trade Organization (WTO) members to suspend trade concessions to Russia and Belarus, and consider steps to suspend Russia’s participation in the WTO. The bill was introduced on March 17 by Rep. Richard Neal (D-MA). It passed in the House on the same day, passed in the Senate on April 7, and was signed into law by President Biden on March 17.
The IRS is currently suffering a severe backlog in processing returns from 2021 for the 2020 tax year. As of Dec. 31, there were still more than 6 million unprocessed individual returns with notices and pending refunds. There are a few things every taxpayer should know that can help them navigate any delays in filing or speeding up the process to make filing this year as smooth as possible.
According to the U.S. Small Business Administration and Project Equality, 60 percent of business owners plan to cash out of the business in the next 10 years. For the baby boomer generation, it’s especially important as they contemplate retirement, with this generation reportedly owning 2.3 million businesses. When it comes to getting a business ready for sale, there are many components to review and get organized before looking for prospective buyers.
According to the March 2022 Short-Term Energy Outlook (STEO) from the U.S. Energy Information Administration (EIA), the forecast is for high energy prices in 2022. The report found that Brent crude oil, used as a benchmark ex-U.S., is expected to see prices of $116 per barrel in Q2 of 2022. West Texas Intermediate (WTI), the price the U.S. uses as a benchmark, is expected to cost consumers, on average, $4.10 a gallon in Q2 of 2022.
If you really want to make impact in your new grad’s life, make an investment in his or her future with a 529 College Savings account. There are two versions: an investment account and a prepaid account. Assuming you are opening an account now and don’t have time for investment growth, you may need to fund it with a significant chunk of money for it to be useful. The savings plan is good for building an investment balance over time, including while the student is in college. On the other hand, the prepaid option is a good way to reinvest a windfall – such as an inheritance or proceeds from the sale of property.
You may or may not have heard of the 50/30/20 budgeting rule, but it’s a good one – one that will help make organizing your finances a lot simpler. The basic idea is to divide up your after-tax income and allocate it to spend this way: 50 percent on your needs, 30 percent on wants and 20 percent on savings. Below are more details on how to do this.
Cybersecurity experts estimate that there is a ransomware attack every 11 seconds. This makes it a challenge to individuals, businesses and even governments.
Consolidated Appropriations Act, 2022 (HR 2471) – This legislation will fund the federal government through September 2022, but also includes a plethora of other bills folded within for the purpose of quick passage by both the House and Senate. Among them is the reauthorization of the Violence Against Women Act and the allocation of $13.6 billion in additional aid to support Ukraine in its conflict against Russia. The bill was signed into law by President Biden on March 15.
The taxation of legal settlements and fees is a complex topic. While the mechanics to make a proper claim are now easier, the rules are still complex. Below we look at six rules to consider when it comes to the taxation of legal settlements and the deduction of legal fees on your taxes.