An FACC employee wired 50 million euros after receiving emailed instructions from someone posing as FACC’s CEO. This forced the company to report a financial loss to investors which would have otherwise shown net positive earnings. FACC, whose customers include Airbus (EPA: AIR), Boeing (NYSE: BA) and Dassault (AM:EN), fired its CEO after he "severely violated his duties". The company’s CFO was also terminated.
The scam is known as the “Fake President” fraud. By using a fake email address that resembles that of the President’s, the scammer convinces an employee, usually working in the finance department, to make an bank wire transfer to a third party on the grounds of a debt to pay, a provision in contract or a purchase deposit. The order is given with authority and urgency. The scammer has usually done enough research on the target company to give them the necessary arguments to convince the victim to act in accordance with the request. More about this topic...
Today, most businesses rely on having fairly unrestricted access to the Internet as a tool in bottom-line productivity. Without balancing that unrestricted access with the use of web monitoring software for employee computer and network users, the bottom line benefits to open access quickly erode. Here are some of the things that can happen without web monitoring and filtering software that lead to costs that outweigh the benefits of open access.
Web monitoring software for your business is actually about safeguarding your network, assets, investment and reputation. One of the chief ways that businesses can get burned without web monitoring software is by having a compromised network where data loss will likely occur.
When employees access compromised sites or download infected files, they can compromise the network and put proprietary data at risk. Even one computer that is infected with malware, toolbars, adware, and other “add-ons” can spread throughout the network and cause system instability. Once inside a network, worms can spread fast, and that one user’s misstep on the web impacts everyone and the daily operations of the business. The cost in time and money to get things back on track is always more than any business wants to expend. More about this topic...
As businesses of all sizes increasingly use cloud storage and services and incorporate the Bring Your Own Device (BYOD) approach to employee management, malware and spyware are growing threats that can financially cripple or destroy a business. While it is important to understand the true costs of these attacks on a business, it is best to start with an explanation of the difference between malware and spyware and approaches to removing them.
What are Malware & Spyware?
Malware, which is short for “malicious software”, is designed to infiltrate and damage a computer without your consent. Malware includes computer viruses, worms, Trojan horses, scareware and more. It can be present on websites and emails or hidden in downloadable files, photos, videos, freeware or shareware.
Spyware focuses on surreptitiously collecting information about your usage through approaches like key logging to record your keystrokes. Spyware usually doesn’t self-replicate like other forms of malware. However, like other forms of malware, spyware can cause just as much harm to a computer, a network and a business. This can have dire financial implications for a business if the spyware is able to access the business’s or its customers’ financial data.
Prevention & Removal More about this topic...
Security is a growing concern for many businesses. With the number and scope of cyber attacks increasing every year, companies and organizations need to be aware of the different threats that face them, how to spot suspicious activity, and what to expect when a security incident occurs.
Malware and spyware are two terms often used when discussing cyber security. Although they are often used interchangeably, they actually carry different meanings. Malware and spyware are among the most common attacks that a company will experience, thus it is important to understand their differences and similarities.
Generally speaking, “malware” is a generic term for any piece of software that has negative or malicious intentions. Examples of malware include, but are not limited to, viruses, remote access tools (RATs), and trojans. Each of these types of software are used for specific purposes and carry different sets of consequences and threats. These applications can be used to control a victim’s computer, destroy software (and in some cases hardware), and even install other pieces of software without the victim’s knowledge. Thus, malware can be devastating in both personal and corporate contexts. More about this topic...