How Hackers Steal Money from Small Businesses – And How a Managed Service Provider Can Help

Why Small Companies Are Easy Targets

• Small budgets – Many owners cannot spend a lot on security tools.

• Direct access to cash – If a bank account is compromised, the thieves can empty it quickly.

• Simple procedures – Often one person handles invoices, payroll and vendor payments, so a single mistake can cost a lot.

Understanding the tricks criminals use is the first step to stopping them. Below are the most common ways they get hold of your banking information and how a managed service provider (for example, TodoSecure) can protect you.

The Most Common Ways Hackers Get Your Bank Details

#	What the Hacker Does	How It Works	What to Watch For
1	Fake Executive Emails	The attacker pretends to be the boss or a senior manager and asks for an urgent wire transfer or a change in a supplier’s bank account.	A sudden request that sounds urgent, a slightly different email address, or a request to “confirm” through a different channel.
2	Phishing Emails	A message contains a link to a fake login page or an attachment that steals the username and password for your online banking.	Misspelled web addresses, generic greetings like “Dear Customer,” and many failed login attempts followed by a successful one from an unfamiliar location.
3	Malware on a Computer	A malicious program is installed (often by opening a bad attachment) and records what you type, takes screenshots, or lets the attacker control the computer remotely.	Your computer runs slower, you see unknown programs running, or there is unexpected traffic leaving your network.
4	Unprotected Wi‑Fi	When you log into your bank over a public hotspot without a secure connection, someone can intercept the data.	Using coffee‑shop Wi‑Fi for banking, missing the little lock icon in the browser address bar, or getting warning messages about the site’s security certificate.
5	Compromised Third‑Party Software	A trusted service you use (like accounting software) is hacked, and the attacker adds code that steals your bank details.	New software updates that cause strange alerts, or sudden outgoing connections after a vendor integration.
6	Phone Scams	Someone calls pretending to be from your bank and asks for verification codes or account numbers.	Pressure to act right away, or a request for “security codes” over the phone.
7	Lost or Stolen Devices / Insider Threats	A laptop, USB stick, or an employee with privileged access leaks the information.	Missing hardware, sudden changes to who can see or edit payment information, or large data exports that weren’t expected.

What Happens When They Succeed?

• Money disappears fast – Wire transfers are hard to reverse.

• Business operations stall – Payroll may be delayed, invoices go unpaid, and suppliers become upset.

• Your reputation suffers – Customers may lose trust in your ability to keep data safe.

• Possible legal trouble – Certain industries must report breaches and may face fines.

How a Managed Service Provider Like TodoSecure Can Protect You

(I don’t have the exact details of TodoSecure’s services, but the items below are typical of a good managed service provider and directly address the threats listed.)

1. Constant Watching and Alerts

• A team watches your network, computers and email all day, every day, looking for anything unusual.

• They combine different warning signs (for example, a new device trying to log into the bank plus a suspicious email) so you are alerted only when something truly looks wrong.

2. Stronger Email Protection

• They set up rules that prove an email really comes from your own domain, making it much harder for attackers to pretend to be you.

• Advanced filters catch fake emails, dangerous attachments and unsafe links before they reach anyone’s inbox.

3. Keeping Computers Safe and Updated

• Every computer gets antivirus and anti‑malware software that works in real time.

• Important updates for operating systems, browsers and banking applications are installed automatically, closing holes that attackers could use.

4. Secure Connections When Working Remotely

• Only devices that meet security requirements are allowed to connect to important services like online banking.

• A corporate virtual private network encrypts all traffic, so even if you use a coffee‑shop Wi‑Fi, nobody can read what you send.

5. Better Login Protection

• They add an extra step to every login (a push notification to a phone, a physical security key, or a fingerprint) so a stolen password alone is useless.

• Permissions are given only to people who truly need them, reducing the chance that one person can change payment details on their own.

6. Ready‑to‑Act Plans for an Attack

• They create simple, step‑by‑step guides for what to do if a fake executive email or a stolen credential is discovered. This includes locking accounts quickly, collecting evidence and contacting the bank.

• Regular encrypted backups of your financial data are stored off‑site, so you can recover quickly if ransomware hits.

7. Teaching Your Team

• Quarterly short training sessions teach staff how to spot fake emails, phone scams and other tricks.

• They also run harmless fake attacks to test everyone’s awareness and give instant feedback.

8. Checking Your Suppliers’ Security

• They evaluate the safety of the software and services you rely on (accounting tools, payment processors, etc.).

• When you connect to a third‑party system, they make sure the connection is secured with proper certificates and limited permissions.

Simple Steps You Can Take Right Now

1. Verify Your Email Settings – Make sure your domain has the proper authentication rules in place. Ask your provider to confirm.

2. Add an Extra Login Step – Turn on two‑step verification for email and online banking accounts.

3. Require Two People to Approve Payments – No single employee should be able to change a supplier’s bank details or approve large transfers alone.

4. Ask for a Free Security Review – Contact TodoSecure (or another reputable provider) and request a quick look at your financial processes.

5. Run a Test Phishing Email – Even one simulated fake email can reveal gaps in awareness.

6. Back Up Your Financial Records – Store encrypted copies offline or in a cloud service that requires a second verification step to access.

Bottom Line

Stealing money from a small business is a high‑impact crime that thrives on weak email practices, simple login methods and a lack of monitoring. By learning how attackers operate and working with a managed service provider that offers continuous watching, stronger email protection, secure remote access, better login security, incident response plans and employee training, you can turn those weaknesses into solid defenses.

Ready to tighten your security? Reach out to TodoSecure for a personalized assessment, or explore their service overview on their website.