A Customer’s Crisis: The Dangers of Hacked Accounts
Yesterday, we were approached by a distressed client whose business had been infiltrated by hackers. These nefarious actors manipulated both the client’s email and Xero accounts, altering bank details on outstanding invoices. This crafty manoeuvre allowed them to reroute almost $20,000 worth of client deposits into the hacker’s own pockets.
We’re currently in the throes of not only securing our client’s digital environment but also attempting to trace and recover these stolen funds.
The Critical Role of Multi-Factor Authentication (MFA)
This incident serves as a stark reminder of the perils businesses face. While strong, unique passwords remain a fundamental security measure, they alone can’t guarantee complete protection. It’s paramount to complement password protection with multi-factor authentication (MFA).
With MFA, even if a password is compromised, hackers are thwarted by the need for an additional authentication code, typically delivered via an app or SMS. This dual layer of security substantially reduces the risk of unauthorised access.