Archive for October 28, 2017

Guest Post: Simple Ways To Prevent Multimillion-Dollar Losses From BEC

Posted in Commentary with tags on October 28, 2017 by itnerd

An urgent email from the boss likely would make most employees sit up and take notice. This could be an opportunity to step up and deliver results that advance their career, or it could be the chance to explain a major mistake, so the person truly responsible is held accountable. An urgent email from the boss could be about any number of things — but most employees would never think about the possibility that it’s a key step in a well-designed scam that could cost the company millions of dollars.

Many who spend time online are familiar with the concept of “phishing” scams, which entail cybercriminals using legit-looking emails to con people into providing their passwords or other sensitive data. But not nearly enough people are aware that these schemes just as easily can affect businesses. Known as business email compromise (BEC) scams, these crimes work in much the same way as phishing. Through hacking or deception, criminals gain access to corporate email accounts. Posing as high-ranking company officials, these criminals then send out emails seeming to authorize the transfer of money for business purposes. In reality, they’re tricking employees into stealing corporate funds for them, and the losses can be catastrophic. The FBI estimates that over a more than two-year period, more than $960 million was lost due to BEC scams. These scams can strike any size business in any sector at any time. All it takes is a single slip-up by someone in the company to provide the opportunity these fraudsters need.

Although the threat of BEC may come as dire news for your business, there are some simple steps management and IT professionals can take to avoid being victimized by these scams. For example, there should be some form of two-factor authentication required to authorize the transfer of funds. An email requesting the transfer of funds should always be accompanied by another form of verification — whether that’s a verified text message, a PIN or a security question. Regular training for all financial professionals in the company is another important weapon in the fight against these types of cybercrimes. Awareness can ensure that employees are always vigilant against common BEC tricks and tactics.

Although one seemingly minor mistake can be all it takes to expose a company to the risk of a BEC scam, the good news is that this risk can be minimized significantly. Follow the accompanying guide to preventing BEC scams, and any urgent emails that employees get from the boss will be alarming for less costly reasons.

Author bio:

Chris Cronin is a partner, principal consultant and ISO 27001 auditor for HALOCK Security Labs, a leading information security firm in Chicago. Cronin has more than 15 years of experience helping organizations with policy design, security controls, audit, risk assessment and information security management systems within a cohesive risk management process. He is a frequent speaker and presenter at information security conferences and events.

 

 

Toronto-Based Rubikloud Is Organizing The Third Annual Startups Warmup Clothing Drive

Posted in Commentary with tags on October 28, 2017 by itnerd

Toronto-based Rubikloud is organizing the Third Annual Startups Warmup clothing drive to provide winter clothing for some of the neediest, including addicts in recovery. They are asking Toronto’s startups and tech community to host a clothing box from Dec 1st – Feb 1st, 2017. Over the past two years more than a dozen companies have participated and they are hoping to beat that this year.

The Cause: Oasis Clothing Bank: http://www.clothingbank.ca/

Unlike other well-funded large organizations, Oasis is small and run on a shoestring budget. Your help could go a long way. They help support recovering addicts integrate back into society. Winter clothing is always in huge demand and short supply.

  • If you want to participate, they will bring a large box to your office. Please send an email back to laura.leslie@rubikloud.com committing to having this box in your office for two months (Dec 1-Feb 1).
  • A company-wide email to your team/portfolio asking them to commit any clothing (especially warm winter clothing).
  • Tweet #Startupswarmup with a photo of your box to Oasis to help raise awareness for their organization.

What Rubikloud and Oasis will be responsible for:

  • They will organize the warm clothing drive and coordinate any admin tasks with Oasis
  • They will put together a deco to put onto the clothing bin indicating you are part of the #Startupswarmup drive
  • They will drop off the clothing bin at the end of November at your office.
  • Oasis will pick up clothing bi weekly so there is no over-flow

Companies that participated either one year or both:

  • OneEleven
  • Pumpup
  • StreetConxt
  • WattPad
  • Pivotal Labs
  • Scalar
  • UXP Systems
  • MaRS Discovery
  • Hubba
  • 500 px
  • TILT
  • Canopy Labs

 

City of Toronto endorses Wired Certification

Posted in Commentary with tags on October 28, 2017 by itnerd

There is nothing more frustrating in a work environment than a slow or unreliable internet connection. Starting today, Toronto businesses will be able to identify office buildings that offer the best-in-class connectivity infrastructure to keep their companies online thanks to Wired Certification. Toronto’s most forward-thinking landlords and developers are pursuing Wired Certification, the preeminent international platform that rates the connectivity and technological capacity of office buildings.

Wired Certification has officially launched in Toronto amid a radical digital transformation in a city recognized as the “Silicon Valley of the North” and a time when 99% of the GTA’s office workers said access to reliable internet is critical in a recent survey on the current state of Digital Connectivity in Toronto.

WiredScore has nine launch partners who have committed to Wired Certification for Toronto office properties: Cadillac Fairview, Hines, Menkes Developments, Ivanhoé Cambridge, Canderel, KingSett Capital, Alberta Investment Management Corporation, Bentall Kennedy, and Hullmark with more commercial landlords and developers signing up in the coming weeks.

More than four million tenants in over 1,000 buildings globally trust Wired Certification as the benchmark for internet that meets their needs. Until now there has been little information available to Toronto’s commercial tenants about the quality of internet connectivity in office spaces. Landlords use Wired Certification to provide that transparency and access to information for tenants. The WiredScore team also helps commercial owners understand and improve the digital capacity of their buildings and works with developers to design best-in-class connectivity for new developments or redeveloped properties.

After conducting an independent survey to highlight the benefits of efficient and reliable internet services in Toronto offices, WiredScore found 95% of the city’s office workers say internet outages or poor connectivity negatively impacts their companies and themselves. In addition:

  • 92.5% say companies should prioritize access to reliable connectivity when selecting office space
  • 90.5% experience connectivity problems at the office
  • 67% say poor internet connection has caused tension in the office

For more information on Wired Certification or to find Wired Certified buildings, visit: www.wiredscore.com