Tips on how to reduce your exposure to business crime


Phil Bower TV-Bay Magazine
Read ezine online

Business Crime is growing in popularity and is cunning, smart, and very convincing. It is being spurred on by the very technology that is supposed to help media and other businesses improve performance. One of the trending frauds is 'Social Engineering' where criminals can make use technology, and trickery to exploite our human nature. Here we outline 2 true stories from clients of Sutton Winson and provide some useful tips on managing your risks:

1. The CEO's email account was hacked and his style of writing well studied. When the CEO was out of the office the Hacker sent an email from the CEO's Outlook, to the Finance Controller requesting that £64,000 be transferred as a deposit to a new supplier with whom the CEO had just struck fantastic deal. The email was convincing, except for one word "Thanks"..it was not in the CEO vocabulary and caused the FC to be suspicious

2. On a warm Friday afternoon, the Accounts Department received a call from the Chairman. He was put through to John, a new and relatively junior employee. The voice on the phone was quite abrupt and when the Chairman introduced himself, John was excited but nervous at the same time. It was a convincing impression as John had seen the company's introductory video when he joined. John was asked to transfer £89,000 to a 'new subsidiary' account and when the fraud was discovered the next day it was too late - the transaction could not be refunded.

Incidents of crime often have other unintended consequences and for one of our clients they were unable to pay their end of month salaries to their employees.

Identifying and Managing your Risk

Human hackers use different strategies:

Impersonation/pretexting: sounding like persons of authority, or a fellow employee, IT representative, or vendor all trying to gather confidential / sensitive information.

Phishing/spamming/spearphishing: sending emails that contain malware software designed to compromise computer systems or capture personal and private credentials.

IVR/Phone phishing (AKA 'vishing'): replicates legitimate sounding message that appears to come from a bank or other financial institution directing the recipient to "verify" confidential information.

Trash cover/forensic recovery: collecting information from discarded computer equipment and company documents that were not securely disposed.

Quid pro quo ("give and take"): random calls offering gift in exchange for a specific action or piece of information

Tailgating/direct access: an employee is followed entering their company premises

Diversion theft: misdirecting a vehicle and arranging for a package to be taken to another location to steal vital data such as account numbers, phone and client contact lists, but also other property such as keys, access cards.

The best defence against fraud is awareness through corporate culture, education and training. If you would like further information or guidance on how to manage risk, including the availability of specialised Insurance products, then please contact:


Tags: iss116 | business crime | social media | online crime | Phil Bower
Contributing Author Phil Bower

Read this article in the tv-bay digital magazine
Article Copyright tv-bay limited. All trademarks recognised.
Reproduction of the content strictly prohibited without written consent.

Related Interviews
  • Creating Broadcast Quality Live Streams for Social Media

    Creating Broadcast Quality Live Streams for Social Media

  • Mediaproxy MediaPlayer publishing to Social media SDI, 2110, 2022-6 and NDI at IBC 2019

    Mediaproxy MediaPlayer publishing to Social media SDI, 2110, 2022-6 and NDI at IBC 2019

  • Social Media Virtual Production Switching from Sony

    Social Media Virtual Production Switching from Sony

  • Movidiam at BVE 2015

    Movidiam at BVE 2015

  • Pixel Power Buzz at IBC 2014

    Pixel Power Buzz at IBC 2014

  • Ross Video at BVE 2014

    Ross Video at BVE 2014


Articles
Connect A Broadcast-Quality Miniature Camera To Your Computer!
Spencer Doran Upgrade any home working or live streaming setup with a broadcast-quality professional webcam
Tags: webcam | marshall | CV503 | USB | ZOOM | Streaming | Spencer Doran
Contributing Author Spencer Doran Click to read
CLASS Is Remote Cloud Working the New Norm
Bruce Devlin - new The Tuk-tuk driver has just dropped us off at the hotel in Jaipur. The guard has let us through the gates, past the dogs and the obligatory cow rummaging in the garbage. We wash our hands, head for the bar and before the first Kingfisher beer arrives, I am connected to the virtual Mr MXF compute kingdom where a million unread emails, Slack messages, requests for help with broken workflows and rejected files are waiting on a collection of virtual servers somewhere in cloud-land.
Tags: iss142 | mrmxf | mr mxf | covid-19 | remote | gotomeeting | Bruce Devlin - new
Contributing Author Bruce Devlin - new Click to read or download PDF
State of the Nation and Virtual Social Distancing
Dick Hobbs - new Under normal circumstances, I usually make my plans for NAB in November time. It’s when the airlines tend to have sales. This year, for personal reasons, I did not get around to booking back then, and it was only at the end of February that I could start thinking about it.
Tags: iss142 | nab | kitplus show | iabm | darren whitehead | warner media | streaming | Dick Hobbs - new
Contributing Author Dick Hobbs - new Click to read or download PDF
TVFutures My Dive in to Learning
Lucy Crow In 2014 I had my first taste of underwater diving. I was on a family holiday and I happened across the experience of a lifetime. Within the first few minutes of that adventure I had decided that I wanted to be part of the diving world going forward. After countless dives and extensive training to become a scuba diving instructor, I made the decision to attend university. I knew that whatever I was going to study, I wanted it to involve my passion for Scuba.
Tags: iss142 | ccitv | university portsmouth | scuba | go-pro | blue planet | Lucy Crow
Contributing Author Lucy Crow Click to read or download PDF
The Importance of Audio Production Systems
Tom Knowles Large-scale entertainment programming presents a unique set of challenges for broadcasters. Often extremely high-profile keystones of a broadcaster’s schedule and increasingly billed as live ‘event television’, as well as delivering the very best audio quality they demand a huge degree of flexibility and agility in terms of their production. With music being such a core component of their appeal to growing audiences, in both linear broadcast and online, nowhere is that more important than their audio production systems.
Tags: iss142 | ssl | solid state logic | system T | tempest engine | binaural encoder | Tom Knowles
Contributing Author Tom Knowles Click to read or download PDF