Posts Tagged ‘phishing scam’

Two C-Level Execs Fall Victim to 21 Million Dollar Phishing Fraud Email Scheme

A movie chain company’s Managing Director and CFO were ensnared in a Phishing Email Scheme that cost their company 21 million dollars and them their jobs. As Phishing email scams become more prevalent and their content/appearance more authentic, it is imperative that all those involved in the financial transactions of any firm be aware of the threat and educated about detecting these nefarious campaigns. Every firm should have protection mechanisms to not only block these emails, but procedures to determine the validity of any request for monetary transfers. If you need any assistance with your security posture and/or your Business…

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Employees Sue Company For W-2 Phishing Scam. Federal Court Decides Triple Damages

According to a recent federal court decision, an employee who is tricked into sharing personal information in response to a phishing email can be seen as committing an intentional disclosure under the North Carolina Identity Theft Protection Act (NCITPA). As a result, the employer could face treble damages for the employee’s mistake, adding a new element to potential exposure for businesses. Employees who fall for CEO Fraud commit an “intentional disclosure”. Poyner Spruill’s J.M Durnovich was right to highlight this development, which was also picked up by the nationwide Law360 site. The failure to train employees may quickly become more…

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