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Business email compromise (“BEC”) occurs when a payee’s business email account is compromised or impersonated. The threat actor, posing as the payee or its representative (e.g., the head of the accounting department), sends...more
Editor’s Note: In this informative webcast, Christopher Wall, DPO and Special Counsel for Global Privacy and Forensics at HaystackID, moderates a compelling discussion titled “From Breach to Insight: Incident Response and PII...more
In a series of three articles, we will address the ascendency of account takeover (“ATO”) and business email compromise (“BEC”) fraud — the unfortunate occurrence where a payor or intended payee’s account is compromised,...more
"Thank you for your order." "We tried delivering your package." We have all seen these subject lines in our inbox, but some are not so innocent. Business impersonation scams are not new, but some of their tricks are. These...more
In an increasingly digitized world, law firms are prime targets for sophisticated cyber threats that can result in substantial financial losses and reputational damage. Recently, a prominent law firm, esteemed for its...more
“Protect your data! Breaches are on the rise!” These warnings seem to be everywhere – and rightfully so. Threat actors are sophisticated and new breach trends are constantly materializing. Awareness is no longer enough. It...more
In our rapidly evolving digital landscape, all organizations are facing an onslaught of cybersecurity threats. According to recent research, victims of cyber attacks paid out a record $1.1 billion last year and have already...more
The FBI has announced that university aerospace researchers, both foreign and in the U.S., have become a target of a specific phishing scheme that is being conducted by threat actors. Specifically, researchers with access to...more
Independent school business officers are tasked with a wide range of responsibilities, including payroll, accounting, accounts payable, investments, and facility security. Unfortunately, many independent schools are...more
Internet users have (mostly) learned to avoid scams by supposed Nigerian princes looking to share a vast inheritance, and there has been a rise in awareness of other common signs of phishing attempts, such as poor spelling...more
Email scams and viruses are nothing new—threats like phishing emails and malware have been around since the days when services like AOL still dominated the internet and email landscape. However, while technology has made a...more
Recent compliance-related news coverage has identified an increase in anonymous hoax emails and online reports posted to companies through their internal reporting systems. Whether filed via email or through an online...more
State and local governments have been hammered with business email compromise (BEC) attacks over the past few years and the onslaught does not appear to be abating....more
We often think of phony financial institution emails as a bad actor’s phishing scheme of choice to capture confidential bank account numbers or other private financial information. While those phishing emails certainly do...more
Report on Patient Privacy 20, no. 7 (July 2020) - During the first six months of this year, 228 breaches affecting 500 or more individuals were reported to the HHS Office for Civil Rights (OCR), and of the top 20, five...more
Eliminating the risk of business email compromise (BEC) attacks requires all parties to a financial transaction to pay close attention to email security, financial controls, and communication protocols. Key Points: ...more
Ransomware Attacks Predicted to Occur Every 11 Seconds in 2021 with a Cost of $20 Billion - Confirming what we are seeing in the field, cybersecurity firm Cybersecurity Ventures has predicted that, globally, businesses in...more
With unprecedented activity online, cybercrime is growing in frequency, sophistication and aggregate effect. Despite the increased visibility of cybercrime, cybersecurity continues to lag behind this curve. Cybercriminals...more
After the killing of Qassem Soleimani on January 3, 2020, by the U.S. government, the cybersecurity news industry has been abuzz about whether Iran will engage in cyber terrorism, and if so, to what degree, as part of its...more
By now, you’ve heard a horror story or two about ransomware. The city of Baltimore’s tale stands out. After cyber-criminals attacked the city’s servers and applications, they demanded $76,000 to decrypt the affected files....more
A former broker at a national brokerage firm was recently sanctioned by FINRA after accepting instructions to transfer assets out of a client account. The problem? The instructions were actually sent by an imposter who had...more
This week the Securities and Exchange Commission (SEC) issued an investigative report that outlined cyber incidents that nine public companies had experienced, causing fraudulent losses totaling more than $100 million. The...more
On October 16, 2018, the SEC released an Investigative Report detailing recent email spoofing schemes that caused nine public companies to lose a total of nearly $100 million. Building on its February 2018 guidance about the...more
On October 16, 2018, the Securities and Exchange Commission (“SEC”) issued an investigative report (see here) pursuant to Section 21(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) warning public companies that...more
The Securities and Exchange Commission issued a press release and an investigative report on Oct. 16 cautioning public companies to consider cyber threats when implementing internal accounting controls. ...more