Why Are Tax Professionals The Target Of Cyber Criminals?

Cyber fraudsters are particularly interested in Tax Professionals. For a hacker, getting your clients’ tax returns, Social Security numbers, employment ID numbers, financial statements, and other sensitive information is like winning the lotto. People having access to your network from another location isn’t the only way your network might be breached. Stolen or misplaced laptops, a rogue employee with access to client data, and mail containing personal information that is accessed by someone it was not intended for are all examples of privacy breaches.

Why Do Hackers Target Accountants?

Law companies’ security is not breached by hackers looking for credit card account or employee information. The vast repositories of confidential information that law firms retain – details of an upcoming client merger, acquisition, trade secrets, patent filings, competitive information, business plans, or documents for an upcoming trial – are valuable for insider trading, blackmail, ransom, or gaining a competitive advantage for organized cyber criminals. Hackers have an easy time acquiring access to law firms because they are often under-protected against cybercrime.

Ways On How Hackers Can Get Access

Cyber criminals can gain access to your company through a variety of methods, including:

  • The Internet of Things (IoT) introduces risks – Cyber criminals look for targets that aren’t well-protected, and once inside, they can acquire access to the entire system. Cyber criminals can gain access to your systems using any device or equipment that connects to the Internet, including printers, servers, conference phones, security cameras, and even HVAC systems. What if an outsider captured your confidential conference conversations, or if everything you printed or scanned was leaked? Consider the mayhem that would ensue if someone had access to a shared calendar and was able to erase every appointment. It would cause a wild scramble in the days leading up to a trial.
  • Sixty percent of breaches are caused through third-party relationships – Partners and third-party providers who connect to your systems create security holes in your data. Legal systems are increasingly connected to a variety of other systems, including client relationships, thanks to the rise of integrated technology and cloud solution providers. The security of a law firm is only as strong as its weakest link. Firms must guarantee that any third parties who have access to their systems follow the same security guidelines.
  • Employees frequently unintentionally open the door – The most typical causes of security breaches are human error and supervision. Attorneys and their assistants are frequently held responsible. If your staff aren’t properly taught, harmful attacks, phishing, frauds, and even dissatisfied employees can compromise your company’s security. Law companies are frequently bombarded with emails from people posing as clients in order to get access to their systems.

When a security breach occurs, you have specific obligations, some of which are even mandated by law. They are as follows:

  • Alerting all impacted individuals and entities of the breach; obtaining credit monitoring for affected clients and employees.
  • Responding to any unfavorable publicity that may arise as a result of the breach.
  • Collaborating with regulators to ensure that privacy rules are followed.
  • Enlisting the help of forensic experts to figure out what caused the breach and who was affected.
  • Collaborating with regulators to ensure compliance with privacy laws.
  • Reimbursing clients and non-clients for any network damage incurred as a result of your firm’s breach.

Are You Looking For A Computer Security Service You Can Finally Trust?

Managed Technology Solutions, also known as ManagedTEK – IT Security Services & Monitoring, is a managed service provider that provides IT support and security solutions for businesses throughout the greater San Francisco Bay Area. ManagedTEK, was founded on an urgency to empower and protect our community from the digital war on personal security and privacy. We focus and specialize in protecting businesses from falling victim to increasingly complex cyber threats. We use cutting-edge technology along with proven cybersecurity practices to provide support and protection for small businesses. Contact us today for your free consultation!