An email that looks like it’s from your bank. An urgent message from a supplier you deal with all the time, asking for a wire transfer. An unexpected invoice with a link to “confirm payment.” Thousands of small businesses in Quebec run into these situations every year, and many fall for them without even realizing it. Phishing is now the most common way cybercriminals break into businesses. Here’s how to spot these attacks, protect your email, and cut your risk dramatically.

Key figure: In 2024, the Canadian Anti-Fraud Centre reported $67.3 million in losses tied to email fraud and phishing. That’s the second-largest category of cybercrime losses in the country, and most of the victims are small businesses.

Quick answer: To protect your small business email from phishing, turn on multi-factor authentication, set up anti-phishing filtering (Microsoft Defender), configure SPF, DKIM, and DMARC, and train your staff regularly.

What is phishing, and why are small businesses the top target?

Phishing is a fraud technique where a cybercriminal sends an email or message that perfectly mimics a trusted source, a bank, a government agency, a supplier, Microsoft, Canada Post, to trick you into clicking a malicious link, entering your credentials, or sending money.

According to the Canadian Centre for Cyber Security’s National Cyber Threat Assessment 2025-2026, phishing remains the number one attack vector in Canada. The report specifically flags the spread of phishing kits sold online and AI-powered chatbots, which let criminals craft convincing emails in seconds, in flawless language, with no spelling mistakes.

Small businesses are especially targeted for a few reasons:

They have fewer cybersecurity resources than large companies
They handle sensitive data (customers, finances, suppliers)
They tend to trust incoming emails without systematically checking them
They’re often used as an entry point into larger partner organizations

In 2024, the Canadian Anti-Fraud Centre reported $67.3 million in losses tied to business email compromise (BEC) and phishing, the second-largest category of cybercrime losses in the country. That figure only covers reported cases; the real total is believed to be much higher.

The most common types of phishing in 2025-2026

Attacks have come a long way. Forget the “Nigerian prince” email riddled with typos. Today’s messages are polished, personalized, and nearly indistinguishable from a real business email.

Generic phishing: Sent in bulk, mimicking a bank, the CRA, Amazon, Microsoft, or Canada Post. Contains a link to a fake login page.
Spear phishing: Targeted at a specific person in the company, often using their name, title, and publicly available information. Much more convincing.
CEO fraud (BEC): The criminal poses as the company’s director and asks an employee to make an urgent wire transfer or hand over credentials.
SMS phishing (smishing): Sent by text message, often impersonating Canada Post, a bank, or a delivery service.
Voice phishing (vishing): A phone call from a fake government agent or bank representative.

In 2025, 82.6% of detected phishing emails contained AI-generated content, according to the Microsoft Digital Defense Report 2025. That means writing quality is no longer a reliable warning sign. A well-written email isn’t necessarily a legitimate one.

How to spot a phishing email

Even well-crafted messages usually leave clues. Here’s what to check before clicking anything:

The sender’s actual email address: The display name might look official, but the real address is often off. Example: “Microsoft Support” sent from support@microsft-help.net.
Links, before you click: Hover over the link without clicking. The URL shown at the bottom of your screen should match the real site exactly.
Manufactured urgency: “Your account will be deactivated in 24 hours,” “Immediate action required.” Legitimate organizations don’t try to panic you by email.
Unusual requests: A supplier changing their banking details by email, a coworker asking for urgent access outside normal procedures.
Unexpected attachments: PDFs, Word docs, or ZIP files sent with no prior context are common infection vectors.

The golden rule: When in doubt, don’t click. Call the person or organization directly using a number you already know, never one provided in the suspicious email.

Six technical measures to protect your business email

Employee awareness matters, but it’s not enough on its own. You also need solid technical protections in place to filter out threats before they ever reach an inbox.

Email authentication and filtering

SPF, DKIM, and DMARC: These three email authentication protocols stop criminals from sending messages that spoof your domain name. If your domain isn’t configured with them, anyone can send email pretending to be you.
Microsoft Defender for Office 365: Included with Microsoft 365 Business Premium licenses, it scans every email in real time, blocks malicious links, and quarantines suspicious attachments before they reach the user.

Access control and account protection

Multi-factor authentication (MFA): Even if an employee’s credentials get stolen through phishing, MFA stops the criminal from accessing the account without the second authentication factor. According to the CCCS, it’s the single most effective protection measure available.
DNS filtering: Automatically blocks access to known malicious websites, even if an employee clicks the link. An extra safety net for human error.

Team awareness and training

Training and phishing simulations: Regular tests send fake phishing emails to your staff to measure their awareness and train them in a hands-on way, with zero real risk.
Conditional access policies: Restrict access to business applications based on device, location, and detected risk level, reducing the impact if an account is compromised.

What to do if an employee clicks a phishing link

It happens, even at well-run companies. What matters is acting fast without panicking. Here are the steps to take right away:

Disconnect the device from the network (Wi-Fi and Ethernet) to stop any potential spread.
Don’t restart the device: a restart can wipe out traces that would be useful for analysis.
Change the compromised account’s password immediately from a different, clean device.
Notify your IT team or IT provider right away so they can investigate.
Check whether any data was exposed: recent logins, sent emails, downloaded files.
Report the incident to the Canadian Anti-Fraud Centre if financial fraud is involved.

The faster you respond, the less damage is done. Acting within the first few hours can be the difference between a minor incident and a major data breach with legal consequences.

Employee training: your best line of defense

Technical tools filter out a lot of threats, but an untrained employee can still open the door. According to the CCCS, the vast majority of cybersecurity incidents start with human error.

A solid anti-phishing training program for a small business should include:

Awareness of the different attack types (phishing, smishing, vishing, CEO fraud)
Real examples of malicious emails, broken down and explained
Clear procedures to follow when something looks suspicious or an incident occurs
Periodic simulations to keep vigilance up over time
Annual updates reflecting new tactics used by cybercriminals

The goal isn’t to call out employees who fall for a scam, but to build a culture of vigilance where everyone feels responsible for the company’s security. An employee who flags a suspicious email has done the whole organization a favor.

Frequently asked questions about phishing protection

How do I know if my business has already been a phishing victim?

The most common signs: unusual account logins, emails sent from your address without your knowledge, unsolicited password reset requests, or unauthorized financial transactions. A security audit lets you review your login history and detect past compromises.

Is MFA enough to protect my business from phishing?

MFA is the single most effective measure against compromised accounts, but it isn’t enough on its own. An employee can still click a malicious link that installs spyware or triggers ransomware. MFA needs to be paired with employee training and advanced email filtering for full protection.

Are phishing simulations actually useful?

Yes, and the results are measurable. Companies that run regular simulations see click rates on real malicious emails drop significantly within a few months. The goal isn’t to trap employees, it’s to build vigilance reflexes in a setting with zero real risk.

OKTO Solutions protects small business email in Trois-Rivieres and across Quebec

At OKTO Solutions, email protection is part of our integrated cybersecurity approach for small businesses. We configure and maintain SPF, DKIM, DMARC, Microsoft Defender for Office 365, MFA, and conditional access policies so your email is protected end to end.

We also offer anti-phishing training built around the realities of Quebec small businesses, with real simulations to test and strengthen your team’s vigilance without causing unnecessary panic.

Not sure how well protected your email currently is? A cybersecurity audit gives you a quick, clear picture and flags the gaps to fix first. Better to find out before an incident than after.

To learn more, see Microsoft’s anti-phishing protection for Microsoft 365 on Microsoft Learn.

Sources: Canadian Centre for Cyber Security: National Cyber Threat Assessment 2025-2026 (cyber.gc.ca) | Canadian Anti-Fraud Centre: 2024 Annual Report (antifraudcentre-centreantifraude.ca) | Microsoft Digital Defense Report 2025 (microsoft.com)