Pearl Software Blog

Internet Monitoring and Web Filtering Topics

CEO Spoofed – Loses Company $47 Million then Fired.

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...

Security and Employee use of the Internet - Part 3 of 3

Three Part Blog

Part 3: Security and Employee use of the Internet

Internet Security has become an umbrella term covering everything from identity theft to virus protection to using firewalls to keep outsiders out (except when you want them in). This article focuses on intentional as well as the inadvertent insider threat and address security concerns managers must understand when employees use company resources to access the Internet.

One of Pearl Software’s quickest success stories was a customer who kept losing competitive bids for contracts based on price. Fearing an inside leak, the customer installed our Employee Internet Management software and quickly discovered that one of his employees was being compensated for emailing confidential bid details to a major competitor. Another of our customers, a large hospital, was inundated with viruses – the digital sort. Computer viruses were frequently plaguing its systems, rendering them useless at times. Antivirus and antispyware software tools would successfully clean up defiled systems, but only after they wreaked havoc for users and the IT staff. The hospital installed Internet monitoring software in order to identify usage patterns and determine and block likely Web sites and users that were the root cause of their issues. The hospital’s primary concern was that an employee could inadvertently download a trojan, making an infected computer a gateway to external hackers and providing unauthorized access to patient information. More...