DocuSign: Third most impersonated brand in email phishing attacks
Docusign, the e-signature software which is used by a majority of the wealth management community, is the third most impersonated brand when it comes to phishing attempts. Only Amazon & DHL are spammed more.
Does this mean you shouldn’t use digital signatures within your business?
Money marketing have highlighted a report that helps demonstrate why all financial advisers should have grave concerns over using email to send information and documents to their clients.
The problem with using Docusign (or any other digital signature software) over email is that your clients are asked to click on a link which takes them to the document. The email looks a lot like a phishing attempt even when it’s legitimate. Clients can then easily be fooled by a phishing email posing as a signature request.
Royal London added: “Phishing is the number one cyber-attack technique in the world due to people being naturally susceptible towards social engineering, with cyber criminals using opportunities including electronic documents to coerce victims into clicking on links and/or opening malicious attachments.
Digital signatures vs the post are on average 288 times quicker …
James Hay research shows that the average time to complete a new application using digital signatures is 25 minutes compared with 5 days using traditional post.
Clearly, there are massive operational efficiencies to be gained by using electronic signature software such as Docusign. So how can financial advisers utilise these tools whilst still protecting their clients?
The answer is to ensure that any digital signature request is sent through your secure client portal.
At moneyinfo, we are handling 1,000s of digital signature requests and there is no risk for our firms or their clients in a request being spammed. Clients use the firm’s own branded app to sign the document rather than being asked to click on an email link. All requests are authenticated and accepted by both providers and platforms.
Your client gets a push notification on their phone that they’ve received a request for a signature. Their app is secured with biometric access so no fiddly password to enter. And with a few clicks the document can be checked and signed.
Clients are reassured because the whole thing is in your brand, rather than linking them to a website of a third-party software supplier they’ve never heard of and nothing is sent via email.
It’s peace of mind for your clients and super-charged efficiency for your business.
To organise a demonstration to see what a moneyinfo branded app can do for your business efficiency and security please click here.
To read the full MM article click here.
