Shark Tank judge loses $400,000 in a phishing scam—but her accounts are still at risk. Securely manage passwords now with LogMeOnce Password Manager and keep hackers away with Password SHOCK©.
WASHINGTON, D.C., March 3, 2020—In light of the well-publicized phishing scam that recently ensnared popular Shark Tank judge Barbara Corcoran, LogMeOnce, the distinctive market leader in password-less authentication, is offering timely advice and critical remedies on how to avoid falling victim to hackers.
Problem: A hacker or group of hackers have already tried to vanish with Corcoran’s $400,000. This phishing scam attack did not happen overnight. The hacker imitated an assistant’s email address and simply changed one letter to make it look real. Apparently, the hacker knew the assistant’s and an accountant’s email addresses, so chances are those addresses and possibly even their passwords were already exposed through a previous data breach and exposed in dark web databases. It’s a scary scenario to think that the hacker might have been already inside these individuals’ network or account, roaming around, and became familiar with internal office procedures and accounting processes, including how invoices are approved for payment.
Solution: To avoid similar scams, LogMeOnce advises against using public email accounts to conduct any kind of financial activity, whether personal or for business. By using your own business domain, you will eliminate a hacker’s ability to create/imitate email addresses without your approval. To seal off your accounts from such hacking attempts, you can throw a security blanket over them and establish simple but comprehensive security defensive layers. Seriously increase password strength for all team members, use Two-Factor Authentication (2FA), monitor dark web for data breaches, and start using Password-Less Login.
Product: Switch to a private email system and start using your own business domain (example: Barbara@Corcoran.com) rather than using a free/public email service. Add proven security from reputable vendors to protect your accounts and credentials. The LogMeOnce management team has invented numerous award-winning security products since 1995. LogMeOnce provides a broad portfolio of security products including its popular password manager, Identity Theft Protection, Dark Web Monitoring, and Cloud Encrypter.
LogMeOnce’s claim to fame is Password-Less Login and provides an array of rich features and functionalities including the patented LogMeOnce Mugshot, Password SHOCK©, and Account Freeze, a unique, patent-pending security application designed to help individual users and businesses protect their passwords and security credentials, and manage against cyberattacks.
Unfortunately, Corcoran fell victim to a phishing scam that could have been prevented with better protection and defensiveness around her accounts and those of her business. Her bookkeeper erroneously sent nearly $400,000 to someone who had sent emails that seemed to come from one of Corcoran’s assistants—but in fact was a hacker.
“Getting hacked or compromised by a scam is a horrible experience, whether you lose a ton of money or your credibility takes a hit. The LogMeOnce Password Manager and Identity Theft Protection tools would have easily prevented such vulnerabilities and such extensive and expensive damage,” says Kevin Shahbazi, CEO of LogMeOnce. “Additionally, our patented LogMeOnce Mugshot would have helped to collect the hacker’s metadata, exposing unauthorized access attempts before the hack occurred. Prevention involves connecting the dots and exposing the source of the scam.”
Only LogMeOnce offers a comprehensive number of login options with automatic 2FA. You always get the extra security layer of 2FA without the hassle of typing yet another password or SMS code, or using a hardware 2FA token. And you get instant protection and instant access to your computer via your mobile device (LogMeOnce protects identities on Apple iOS, Android, Microsoft Windows, Mac OS, and Linux).
As a “zero-knowledge” technology company, LogMeOnce does not know a user’s encryption key or actual passwords. With LogMeOnce, you are the only one who has absolute knowledge of your actual password and encryption key—only you can decrypt your account.
Founded in 2010, the award-winning LogMeOnce confidently helps consumers and businesses protect their passwords, identity, and data. LogMeOnce rose to popularity with its feature-rich password management platform, and then with its patented PhotoLogin technology that gave users the choice of logging in with a password-less selfie. As serial entrepreneurs, the LogMeOnce management team has founded and scaled up to global brand status multiple startups, with successful exits and acquisitions, such as the acquisition by security industry leaders McAfee and Intel Corp. in 2010.
LogMeOnce is headquartered in Washington, D.C., and serves the global market with an additional location in Barcelona, Spain. LogMeOnce markets and sells its solutions worldwide directly and through a variety of partners. For information about LogMeOnce, SDK, OEM licensing, and reseller partnership opportunities, please visit www.LogMeOnce.com, call (800) 935-4619, fax (866) 732-0324, email sales@LogMeOnce or Media@LogMeOnce.com. All trademarks belong to their respective organizations.