Three Cybersecurity Trends CPAs Should Know About

The April tax deadline has come and gone, so now is the time for CPAs to address significant cybersecurity trends that emerged this year. These trends deserve immediate time and attention from both individual CPAs and larger accounting firms alike.

Three Cybersecurity Trends CPA’s Need to Address ASAP: 

1. Ransomware is here and is not going away anytime soon. 2021 saw more ransomware attacks than any prior year, and we do not see the trend slowing in 2022. CPAs must understand the present and growing risk of ransomware as preparers of sensitive personal and financial information. CPAs are especially vulnerable, as cyber actors look for industries with a defined ‘busy season’ when individuals are overwhelmed by their current workload and more likely to miss the signs of an impending attack. With the busy tax season, CPAs are a prime target. 
2. Accidental and malicious insiders can put data at risk. We spend a lot of time concerned with external threats, but it’s important to remember the risk brought by company insiders putting data and network integrity at risk. This includes both accidental and purposeful misuse of information. Both create a significant threat to cybersecurity and data privacy for CPA firms.
3. Phishing scams are impending disasters. The old devil (phishing) is still as prevalent as ever, even as ransomware has stolen many of the headlines. Understand that any member of your organization is only one lousy click away from creating a data disaster. Phishing scams include any type of malicious message typically sent via SMS, email, or an alternate digital platform. Unknowing employees can accidentally click a malicious link and allow threat actors access to customer data and, in worst-case scenarios, a company’s entire network. As an estimated 3 billion phishing emails are sent each day, the numbers speaking for themselves–this is a prevalent issue worth addressing.

PK Tech has deep roots in working with CPA firms in the Greater Phoenix Area, and we continue to work with several local firms. You can check out more CPA resources in our recent blog posts, including Intuit Phishing Attacks Target CPA Firms for 2022 Tax Season, 4 Steps to Build a Cybersecurity Plan for Your CPA Firm, and more.  

If you are a CPA firm looking for managed IT support in the Phoenix or surrounding areas, let’s chat. Get in touch with the PK Tech team here. 

You can also evaluate your firm’s FTC Safeguards Rule readiness by taking our quiz.