March Madness isn’t just for basketball—it’s also the perfect metaphor for cybersecurity. In the world of college hoops, you can’t rely on last year’s strategies to win this year’s championship. Your competitors are constantly improving, analyzing past plays, and adjusting their tactics. The same applies to cybersecurity—especially for businesses handling sensitive financial data.
Unfortunately, one accounting firm learned this lesson the hard way last tax season. Before working with us, they believed their existing security measures were enough to protect them, but cybercriminals were playing a much more advanced game. Their lack of email security and data hygiene left them vulnerable, and when tax season rolled around, they suffered a devastating loss.
The Play-by-Play: A Costly Mistake
Everything seemed normal in early March. The firm’s accountants were busy filing returns and managing financial documents for their clients. Then, it happened—one of their employees received an urgent email that appeared to be from a longtime client requesting a tax return update. The email was well-crafted, used the client’s real name, and contained no obvious red flags. Without second-guessing, the employee responded, attaching sensitive financial documents.
A few days later, the real client called, confused. They hadn’t sent that email. It was a business email compromise (BEC) attack, and now, the cybercriminal had access to highly confidential tax documents, Social Security numbers, and financial records. By the time the firm realized what had happened, thousands of dollars were stolen in fraudulent tax refunds, and their reputation was on the line.
What Went Wrong?
Just like trying to rely on the same roster year after year in basketball, the firm was relying on outdated security strategies. Here’s where they fell short:
- No DMARC Policy – Their email domain lacked proper authentication protections, allowing cybercriminals to spoof their email addresses and trick employees.
- No Multi-Factor Authentication (MFA) – A hacker had previously compromised an employee’s email account, and without MFA, it was easy to use that access to gather more intelligence.
- No Secure File Transfer Policy – Employees were sharing sensitive tax documents over email instead of using encrypted portals.
- Lack of Employee Awareness – The firm had no regular cybersecurity training, so employees weren’t trained to spot sophisticated phishing scams.
Adjusting the Game Plan: How They Recovered
After the breach, they reached out to Go West IT for help, and we immediately stepped in to strengthen their cybersecurity, ensuring they never faced an upset like this again. We implemented:
DMARC, DKIM, and SPF Policies – To prevent email spoofing and ensure only legitimate emails were sent from their domain.
Multi-Factor Authentication (MFA) – Adding an extra layer of security for email logins and financial platforms.
Encrypted File Sharing – Transitioning the firm to a secure document-sharing platform rather than using email attachments.
Phishing Awareness Training – Conducting simulated phishing campaigns to test and train employees to recognize scams.
24/7 Email Monitoring – Installing advanced email security solutions to detect and block suspicious activity before it reaches employees.
Tax Season & Cybersecurity: Don’t Leave Your Business Vulnerable
Tax season is already stressful enough—don’t make it harder by leaving your business exposed to cyber threats. Cybercriminals are constantly evolving, just like the competition in March Madness. If your security strategy hasn’t been updated recently, you’re taking a gamble on your business.
Instead of guessing who might attack next, fortify your defenses. Let Go West IT help you develop a winning cybersecurity game plan that protects your business from tax fraud, email compromise, and financial theft.
Are your cybersecurity defenses ready for the next big game? Contact Go West IT today to ensure you’re prepared for whatever threats come your way.
