Phishing SMB’s Supply Line

by | May 22, 2020 | Behavioral InfoSec, Email Market, Email Tradecraft, Executive Email Security

To this day the most common way for businesses to order stock is through email. A purchasing officer or executive emails the company representative and sets up the order. In many ways this is superior to ordering through a portal. When the customer emails the rep, it gives the rep information and the ability to interact with the customer. For valuable accounts this is critical. There is always someone trying to steal the customer. The monthly or weekly order, gives the rep a touch point to maintain the relationship.

Phishing Supplier relationships

But email can be more insecure than a portal. Phishing is rampant right now. It is a common tactic to impersonate a supplier rep and inform the victim that their payment bounced and unless a new payment is cut, they will be banned for fraud. Given the volatile nature of sales positions and the urgency there of. These kinds of attacks have an unfortunate success rate. As well as potentially being devastating for the victim. Many retailers have razor thin margins and low savings. An order without being delivered could easily cause major harm to a retailer.

Enveloperty aids these relationships because Enveloperty focuses on verifying identities. It is virtually impossible to secure the content of email. The breadth of legitimate content, and the nuance of malicious content makes that too difficult to do reliably. But, Enveloperty can set up a easy to use ID method between the customer and supplier. This way Enveloperty users can be sure they are talking to who they think they are. The system has parallels to security badges we all know so well. If you’ve ever had your drivers license checked for a large purchase with a credit card, it is the same principle!