Small Businesses More Likely to Have Their Merchant Credit Card Processing Services Targeted

When recently surveyed, owners of small businesses overwhelmingly stated that they believed that their merchant credit card processing services were less likely to be targeted by cybercriminals than large businesses. Unfortunately, statistics don't support that belief and small businesses need to be aware.

Complacency is Dangerous

Because small business owners don't think that they are likely targets, many decline to spend the money needed to offer the best protection for their bank accounts and credit card transactions. The most effective protection will cost more, and proper training in the use of mobile terminals and data security takes time as well as money. Complacency is the best friend of thieves and they continually search for naive businesses that are most vulnerable.

Data Means Dollars

As a result of typically lax security measures in place at small businesses, cyber-thieves specifically target such establishments. These companies access the same data as larger business, bank account numbers, credit card numbers, employee social security information and so forth, but they do less to protect them.

It is not uncommon for crooks to get access to such information and clean out a small business's bank accounts in one transaction, leaving the business high and dry and owners wondering how it happened. In October of 2010 a small group of Ukranian Internet thieves were arrested for stealing $70 million from small and medium-sized US businesses.

Protecting Yourself and Your Business

There are a few essential ingredients you must employ if you want to ensure that you are using the best security for your business:

* Use the latest browsers; they offer the best security

* Establish policies related to who can use the Internet at work and when

* Create rules about off site Internet access of your company computers and servers

* Learn how to use the tools that come with your credit card services

* Stay current on security threats, changes and updates

While small businesses have some advantages in flexibility and customer service, they lag behind larger companies who have the money to invest in the latest and greatest technology, IT teams and advanced security systems for their Internet interactions. Spend time learning, researching, and identifying current threats and give your business a chance at success from the get go. This means that as a budding entrepreneur you need to take a more active role and pursue security for your merchant credit card processing aggressively - for your safety and that of your customers.

Michael Rupkalvis owns the Transaction group. The Transaction Group offers cheap credit card processing services and other solutions such as medical marijuana credit card processing for dispensaries throughout the United States.

Security Professionals Alert Users of Spam E-mails Seeking Credit Card Bill Payment

Security researchers have alerted customers on a new spam e-mail, which attempts to scare users by asking them to make payment of overdue credit card bill. The spam e-mail identified by researchers at Sophos comes with different subject lines and seeks payment of the credit card bill within two days. The scam e-mail warns users that non-payment of the bill within two days may result in late fees and finance charges. The e-mails contain credit card details such as card number and card limit. The e-mail urges users to open the attached .zip file to view bill details.

Scammers attempt to create panic by claiming that their credit card bill is overdue by one week. Users who download the file out of panic or curiosity to check the authenticity of the claim, inadvertently download a malware on their computer systems. Security researchers at Sophos have detected the malware as Troj/Invo-Zip. The Trojan arrives in a Zip file and attempts to download more malware into the compromised machine. The malware affects Windows operating system.

Scammers also attempt to defraud users by sending URLs or image and video files related to an event or celebrity. Scammers may also send a fake invoice related to a parcel service or entice users to fill a malicious form for tax refund. In one of the recent spam attack, scammers attempted to capitalize the death of pop singer Amy Winehouse to download malware and compromise computer systems.

Internet users must not click on suspicious links and avoid downloading attachments in e-mails with suspicious claims. They must regularly update the security software to benefit from the latest virus and malware definitions added by the vendor. They may keep track of the security updates by visiting the websites of Computer Emergency Response Teams (CERTs) and product developers. E-learning and online degree programs may help Internet users in gaining insights on security threats and safe online computing practices.

Scammers may also target employees through social engineering techniques. As such, organizations must update employees on the latest threats through training sessions and e-alerts. They may also encourage employees to undertake online university degree programs to gain understanding of the security fundamentals and improve their cyber security practices.

Professionals qualified in masters of security science help organizations in making assessment of different threats in the IT environment and initiate corrective measures.

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