How to Avoid Online and Text-Based Scams in the Digital Age

How to Avoid Online and Text-Based Scams in the Digital Age

In today’s hyper-connected environment, cyber threats aren’t just a concern for IT departments, they’re a daily reality for everyone, especially those working in finance and accounting. With sensitive financial data, vendor relationships, and payment responsibilities at stake, accountants and business professionals are prime targets for scams.

Let’s break down the most popular ways scammers are getting in, and how you can stop them.

1. Phishing Emails

Phishing scams are deceptive emails that trick recipients into clicking a malicious link, downloading malware, or surrendering personal information like passwords or account numbers. These emails often spoof a trusted contact or organization, making them difficult to spot.

Common red flags:

  • Generic greetings like “Dear user”
  • Slight misspellings in the sender's email address
  • Urgent or threatening language (“Your account will be closed in 24 hours”)
  • Unexpected attachments or links

Accounting Implications:

Attackers often pose as vendors, clients, or internal executives. A fake invoice from a “supplier” could look nearly identical to a real one, causing staff to unknowingly approve a fraudulent payment.

How to protect yourself:

  • Verify before you act. Call the supposed sender using a known number if something seems off.
  • Check URLs carefully. Hover over links to preview the destination. Look for spelling issues or unusual domains.
  • Use email filtering and flagging tools. Invest in a secure email gateway that can detect impersonation attempts.
  • Train your team. Phishing simulations and regular security awareness training are key to keeping everyone alert.

2. Smishing (Text Message Scams)

Smishing, or SMS phishing, uses text messages to lure victims into clicking malicious links or providing private info. Scammers often pretend to be your bank, the IRS, a shipping company, or even your company’s IT department.

Typical smishing messages might say:

  • “Unusual login attempt. Click here to verify your account.”
  • “Your package is waiting. Confirm delivery info now.”
  • “HR update: Action required for your W-2 access.”

How to protect yourself:

  • Don't trust unsolicited messages. Legitimate organizations won’t ask for sensitive information over text.
  • Never click suspicious links. If you’re unsure, go directly to the organization's website or contact them through official channels.
  • Block and report the sender. Most phones and carriers have built-in tools to block and flag smishing attempts.
  • Enable multi-factor authentication (MFA). This helps prevent account compromise, even if credentials are leaked.

3. Business Email Compromise (BEC)

BEC is a form of social engineering where a hacker impersonates a high-level executive, client, or vendor to request a money transfer or sensitive information. These emails don’t always include links or malware, making them extremely difficult for standard email filters to catch.

What it might look like:

“Hi John, we need to wire $42,000 to a new vendor for the construction project. I’m on a flight right now so can’t talk—can you take care of this urgently?”

Accounting Implications:

BEC scams often target CFOs, controllers, and AP/AR teams. With access to payment systems and vendor info, these individuals are ideal targets for convincing fraudulent requests.

How to protect yourself:

  • Use dual authorization for wire transfers. Require at least two people to approve any large or unusual payments.
  • Implement strict email change protocols. Any update to vendor payment details should be verified with a phone call using a previously known number.
  • Watch for red flags. Sudden urgency, changes to payment instructions, or out-of-character language are all warning signs.
  • Deploy email authentication tools. Tools like DMARC, DKIM, and SPF can help prevent domain spoofing.

4. Ransomware Attacks

Ransomware is a type of malware that locks access to files or systems until a ransom is paid. These attacks often originate from phishing emails, infected websites, or malicious downloads. Once inside a system, ransomware can spread quickly and shut down entire networks.

Accounting Implications:

Being locked out of financial software during month-end close or tax season can halt business operations, delay compliance, and result in lost revenue, not to mention the cost of recovery.

How to protect yourself:

  • Back up data regularly. Use both on-site and off-site backups, and test restore procedures periodically.
  • Keep systems updated. Patch software and firmware regularly to close vulnerabilities.
  • Limit user access. Employees should only have access to the data and tools they need for their roles.
  • Invest in endpoint protection. Strong antivirus, firewalls, and behavior-based monitoring tools can stop ransomware before it spreads.
  • Have a response plan. Know what steps to take (including who to contact) in the event of a ransomware incident.

5. Social Engineering

Social engineering attacks prey on human psychology, not just technical vulnerabilities. A scammer might pose as a co-worker in need, a tech support agent, or a recruiter offering a job, anything to build trust and trick someone into giving access or information.

Common tactics include:

  • Pretexting (posing as someone trustworthy)
  • Tailgating (physically following someone into a secure area)
  • Baiting (leaving infected USB drives or fake job offers)

How to protect yourself:

  • Stay skeptical. If a request seems unusual or urgent, verify it independently.
  • Use internal communication channels. Confirm sensitive requests via company chat or in-person, not through external emails or calls.
  • Enforce badge access and security policies. Physical security is just as important as digital.
  • Remind your team: It’s okay to say no. Cybersecurity starts with a strong culture of caution and accountability.

A Layered Defense is the Best Offense

Cybersecurity isn’t just an IT issue, it’s a business continuity issue. In accounting and finance, the stakes are high. Whether it’s protecting client data, safeguarding company assets, or maintaining trust, being proactive is critical.

Top Takeaways:

  • Think before you click or reply.
  • Always verify financial and sensitive requests through a second channel.
  • Educate your team regularly.
  • Use multi-layered security tools.
  • Don’t let urgency override good judgment.

If you're ever unsure about a message or request, pause, and ask. A few extra seconds of scrutiny can save thousands of dollars and countless hours of recovery.


ADKF
is the largest, locally owned public accounting firm in San Antonio, Texas, with branch offices in Boerne and New Braunfels. We have been serving our community since 1991. We are a full-service CPA firm dedicated to providing a broad range of tax, audit, bookkeeping, tax controversy, and consulting services with superior customer service to help our clients meet their goals and objectives. Please click here to set an appointment with us.

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