Business Email Compromise and Ransomware - Red Flags and Mitigation

The Internet Crime Complaint Center (IC3) reports that U.S. victims alone lost $18 million in 15 months to just a single form of ransomware. This training program will review the risks associated with various types of cyber fraud, and in particular, business email compromise (BEC) and ransomware. The session will also discuss documenting sound business practices to minimize exposure and loss and list what to present to your board of directors before an incident.

Why Should You Attend:

Cyber frauds continue to drain billions from unsuspecting organizations and consumers around the globe. Two cyber frauds, business email compromise (BEC) and ransomware, are the toughest to avoid and the most costly.

In addition to losing money if the fraud is successful, organizations have to shell out again in the aftermath in the form of thousands more for the loss of productivity, legal fees, technology services, and sometimes to buy credit monitoring services for affected employees and/or customers.

This session will identify these growing attacks, including detailed examples and explanations of both forms of fraud, and highlight sound business practices to minimize your exposure to loss. We will also discuss tips to consider when reviewing cyber security insurance policies since many organizations eventually learned their policy did not cover these forms of fraud.

Learning Objectives:

• Review the risks of business email compromise (BEC) and ransomware
• Isolate red flags
• Document sound business practices to minimize exposure and loss
• What to present to your board of directors before an incident
• Understand the current state of how these frauds affect common cyber security insurance policies

Areas Covered in the Webinar:

Business Email Compromise (BEC)

• Define and provide examples
• Review case studies
• Red flags of a BEC attack
• Sound business practices to minimize exposure and loss

Ransomware

• Define and provide examples
• Review case studies
• Identify why ransomware is so difficult to prevent
• Sound business practices to minimize exposure and loss
• Cyber Security Insurance Policies

Who Will Benefit:

• Internal Auditors
• Risk Officers
• Director of Security
• Compliance Officers
• Compliance Professionals
• Operational Risk Professionals
• CFO/Finance Professionals
• Board Members
• External Auditors
• Audit Committee Members
• Operational Risk Managers
• Departmental Managers
• Information Security
• Information Technology
• Fraud Investigators