Financial firms across Central Missouri—CPA offices, tax consultants, and wealth advisors—are facing a new kind of cyber threat. Instead of busting through firewalls, hackers are simply logging in.
This tactic, called an identity-based attack, uses stolen passwords to access sensitive systems. And in 2024 alone, 67% of critical cybersecurity incidents began this way.
Even major corporations like MGM Resorts and Caesars Entertainment fell victim to these attacks. If it can happen to them, it can absolutely happen to a 12-person CPA firm in Jefferson City.
What Is an Identity-Based Cyberattack?
Hackers no longer need to “break in”—they use your credentials, or those of your staff, to gain access. Here are the most common methods they’re using against financial firms:
Common Identity-Based Attack Tactics
- Phishing Emails and Fake Login Pages
Employees are tricked into giving away credentials on pages that look legitimate. - SIM Swapping Attacks
Hackers reroute your phone’s SMS traffic to capture two-factor authentication (2FA) codes. - MFA Fatigue Exploits
Constant login attempts prompt employees to click “approve” out of frustration. - Third-Party Access Exploits
Vendors like IT support or payroll software become weak points in your defense.
Why Missouri CPA Firms Are High-Value Targets
As a financial professional, your firm handles Social Security numbers, tax records, payroll data, and more. A single breach could devastate client trust and trigger regulatory scrutiny under GLBA or the IRS Safeguards Rule.
And here’s the truth: most Missouri financial firms are still relying on outdated systems and solo tech guys with slow response times.
5 Steps to Protect Your Financial Practice from Cyber Threats
You don’t need a full IT department or Silicon Valley budget. These practical steps will go a long way:
1. Use Secure Multifactor Authentication (MFA)
- Avoid SMS codes
- Use app-based (e.g., Authy, Duo) or hardware security keys
- Enforce MFA on all staff logins—especially client portals and email
2. Train Your Team on Phishing and Social Engineering
- Invest in monthly phishing simulations
- Educate on how to spot fake emails and login requests
- Establish a simple process to report suspicious activity
3. Apply Role-Based Access Controls
- Only give access to what employees need
- Limit administrative privileges
- Protect client files with encrypted permissions
4. Go Passwordless or Use a Password Manager
- Encourage the use of tools like LastPass or 1Password
- Consider biometrics and security keys for key systems
5. Partner with a Local MSP That Knows Financial Compliance
- Work with an IT provider that understands FTC Safeguards, IRS data retention, and GLBA
- Flat-rate plans, fast helpdesk, and layered security should be non-negotiable
What’s At Risk for Central Missouri CPAs
If you’re running a CPA firm in Missouri like Frank Matheson, downtime during tax season isn’t just annoying—it’s a financial risk. A breach during Q1 could mean:
- Missed deadlines and client loss
- Reputation damage and public disclosure
- Fines for non-compliance with federal data protection laws
Take the First Step Toward Cybersecurity Peace of Mind
You didn’t start your business to become an IT guy. But as a financial professional, cybersecurity is now part of your fiduciary duty. Let a trusted local partner take it off your plate—before a phishing email derails your firm.
Book Your Free Cyber Risk Assessment Now
We’ll evaluate your vulnerabilities, show you what to fix, and map out an affordable action plan—no jargon, no pressure.
