Tag Archive: cyber crime

Are You Thinking About Cyber Security?

May 16th, 2017
security threats

Are you developing strategies to address cyber security concerns? If you aren’t thinking about the relevance and risk, you should pay attention.

Cyber security has taken over the news and trade magazines lately as risk levels are elevated and cyber crime is a real threat. Are you developing strategies to address cyber security concerns? It is no laughing matter as you listen to what could happen….

Tonight, we attended a ProVisors (group of trusted advisers) cocktail reception. In two hours, we ran into multiple people who talked about the relevance and risk associated with cyber security. If you aren’t thinking about these questions, you should sit up and pay attention:

  1. Does your company have the appropriate security and protocols in place to fend off hackers? If each of us thinks we aren’t important enough for a hacker, someone will be surprised.
  1. Have you thought about your supply chain partners and cyber crime? It can be a vast topic. Although the risk might be low, the impact can be high. Just ask folks like Target and Home Depot.
  1. Have you thought about cyber security and your manufacturing machines like CNC machines and manufacturing execution systems? Suddenly the topic got a lot bigger!
  1. How about the internet of things? Have you thought about how to prevent cyber crime from non-work devices that can connect with work-related devices?
  1. Do you have cyber security insurance?

 

Did you like this article? Continue reading on how to become a Systems Pragmatist:

What’s Important in Technology?

Why Care About Supply Chain Risk?

 



Cyber Crime Is UP. Should We Be Concerned?

May 15th, 2017

I attended the DMA (Distribution Management Association) event earlier this week, and I heard a compelling speaker from the Los Angeles office of the FBI talk about cybercrime. It is simply a massive industry. In 2015, internet fraud led to a loss of $14.6 million per month. Talk about a massive amount of cybercrime, just in Los Angeles vs. bank robberies nationally in 2014 at $2.4 million per month. Are you protecting your business from Ransomware and BEC (business email compromise)? If not, I now am armed with several horrifying statistics to pass along.

internet fraud

One tip to implement this week:

Every executive should be thinking about cyber crime. Is it worth saving a few dollars on a less expensive, inexperienced IT resource? Absolutely not! 71% of breaches occur in small businesses because they tend to be more vulnerable, and 60% of them close their doors within 6 months. Certainly these types of statistics should encourage you to be vigilant.

It isn’t just IT resources. A lot of cyber crime has to do with education and culture. If employees open emails that look harmless and don’t know what to look for or how to handle the situation, it can go from bad to worse in a hurry. One executive got in a heap of trouble when attacked by BEC because the culture was such that the CFO didn’t question blindly following what looked like an email from the CEO with instructions of where to wire funds. Start by learning about cyber crime. Find out what you should be looking for and make sure your employees understand how to handle these situations. Crooks will continue to go after these untapped funds and so we must be proactive and alert.

 

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