SCAM OF THE WEEK: Bet on Cybercriminals

MGM Resorts International is an American hospitality and entertainment organization. This past week, MGM made headlines with the news of a cyberattack costing over 52 million dollars in lost revenue. Nearly all of MGM’s hotels, casinos, and ATMs went offline. This massive attack started with a simple social engineering scam.

Using information found on a LinkedIn post, a cybercriminal impersonated an MGM employee and called their IT department. They asked to have their password reset, and the IT department reset the employee’s password. This gave the cybercriminal access to the employee’s account and eventually led to the cybercriminal taking over MGM’s entire system. This is a great example of why it’s important to learn how to protect yourself and others from similar attacks.

Follow the tips below to stay safe from similar scams:

• Be careful with the information you share about yourself online. Cybercriminals can use this information to target you in phishing attacks.

• Confirm that the person you’re speaking to is actually who they say they are. Try reaching out to them using another form of contact or by meeting with them face-to-face.

• Be suspicious of emails, texts, and social media posts that contain shocking information about this event. These may lead to disinformation, which is false information designed to mislead you.

For more information about IT and cybersecurity services for small and medium businesses or to schedule a free initial consultation with no obligation for your business, contact ORAM Corporate Advisors now at (617) 933-5060.