Category Archives: Technology Risk

Для тех, кто интересуется безопасным доступом к онлайн-играм, наш партнер предлагает зеркало Вавады, которое позволяет обходить любые блокировки и сохранять доступ ко всем функциям казино.

Mitigating Payment Fraud Risks

Posted on by

For businesses that thrive on person-to-person transactions, cash is quickly being replaced by cards, as well as tap-to-pay systems, mobile wallets and QR-based payment systems. These technologies will continue to dominate the market in the near future, but the long-term future of the payment card industry will likely be shaped by the impact of blockchain and artificial intelligence. These developments will eventually also impact risk management, marketing and financial planning, as they present opportunities for serious risks, including fraud. Hence, it is imperative for risk management professionals to plan for these short- and long-term changes in the industry.

Strong risk monitoring requires proactively assessing threats and planning mitigation measures to minimize risk impact on the company or organization. To help mitigate payment fraud risks, businesses can take the following steps:

Train your Employees Regularly

The more regularly you train your employees, the more likely are they to spot suspicious behavior, no matter what payment technology the business uses. Repeated and regular trainings are essential because employees tend to forget what they have learned with time. These training workshops should teach the workers to never accept damaged cards from customers, confirm customer identities, and never enter a card number manually.

Use Contactless and EMV-Enabled Terminals

As payment technology changes, businesses must evaluate what options are safest and least prone to fraud. Currently, businesses should use EMV (short for Europay, Mastercard and Visa), which involves chips embedded into payment cards—a significant step in making transactions safer. The introduction and adoption of EMV-enabled secure terminals, particularly when using PIN and EMV security together, has helped merchants and customers prevent fraudulent transactions.

Contactless smartcards such as chip and magnetic stripe cards use contactless payment, which can present another secure way to process transactions. Most EMV terminals are also enabled with contactless payment. At such terminals, a fast and secure transaction is possible using Near Field Communication (NFC) or Radio-Frequency Identification (RFID) via smartcard or smartphone. If a merchant chooses to use contactless payment without PIN, they can put a limit to the amount spent on each contactless transaction to further minimize risk.

Beware Uncommon Transactions

Transactions that involve unusually large purchases could be a sign of potential fraud. Businesses should examine such transactions closely and confirm the identity of the customer. Similarly, if several purchases are made with a card in a short timeframe, it could indicate that the card was stolen and being used by someone other than the owner.

Maintain Online Security

As merchants and consumers shift to contactless and EMV-enabled point of sale terminals, risk has shifted towards online transactions. To mitigate this risk, it is important for online businesses to use the Address Verification Service (AVS), which verifies that the billing information matches the one registered with the card issuer. Vendors should also ask for Card Verification Value 2 (CVV2) to verify that the user has the card in hand when placing the order. Another important check is to put a limit on an IP address for the number of cards it can use for online transactions.

Prevent Employee Fraud

Employee fraud is always a major concern for risk management professionals.  Businesses should remember to keep an eye on credit card activity, particularly returns, as employee theft often shows up in fake discounts or returns. Companies should create alerts that set limits on returns at stores and notify management any time those limits are exceeded.

Prevent Your Employees From Getting Tricked by Phishing Emails

Posted on by

We all know to watch for suspicious emails. But phishing emails are becoming increasingly more sophisticated, tricking even the savviest among us. The costs to consumers, businesses and institutions keep adding up: According to the FBI, online theft, fraud and exploitation totaled $2.7 billion in financial losses in 2018.

The most expensive complaints involve business email compromise (BEC), a tool that cybercriminals use to launch many types of cybercrimes, from misdirected payment and inventory fraud to ransomware attacks.

More than a third of businesses (37%) surveyed nationally for HSB by Zogby Analytics received an email from someone pretending to be a senior manager or vendor requesting payments. The businesses reported that almost half of employees receiving those emails (47%) responded by transferring company funds, resulting in tens of thousands of dollars in losses. For some types of businesses and government entities, the payment frauds can reach hundreds of thousands to millions of dollars.

Three Tips to Help Employees Avoid Cyber Fraud

What can a business or institution do to help prevent employees from falling for email phishing schemes? Here are three tips to avoid falling for the latest tricks:

  1. Check the Source

Before you open an email, take a moment to consider the source of the email and whether that person is likely to send you an attachment or link. Check the email address, screen name or phone number associated with the message.

online pharmacy estrace with best prices today in the USA

Hackers often mimic an email address that you would trust with one letter or number off from the original name or domain.

The address may even look exactly like a trusted contact but when you mouse-over the name, you can see that the address is different. A hacked email account can also be used to send malicious content, so be sure to evaluate the content of the message.

  1. Check the Content

Before you click on a link or download an attachment, take a good look. Many times, if you copy the link or name of the attachment into a search engine, you can find out whether cybercriminals are actively using the content to spread malicious content, like a virus or ransomware.

Ask yourself whether this is the type of content you usually receive from the sender. Are you expecting an attachment? Even if you are expecting an attachment, does it appear, from the name and type of file, that it is legitimate? Is the attachment or link the only content of the email?

If you have doubts, delete the message or call the sender at a number you have verified as theirs.

online pharmacy zetia with best prices today in the USA

Also, hackers often make an urgent request to trick victims into clicking on malicious links or files. Any urgent request sent via email should be verified in-person.

  1. What if I Clicked on the Wrong Thing?

Everyone makes mistakes. You would not be the first person to click on a bad link or download a bad file. But even if nothing happens immediately, there is no guarantee that the threat is gone.

Malware can lay dormant for weeks, months, or even years before activation. It may also be transmitting information in the background without your knowledge.

So, act as soon as you realize you clicked on a bad link or file. Alert your information technology security department right away. If you are a smaller operation, run a virus scan and keep an eye on your financial information.

online pharmacy cymbalta with best prices today in the USA

RIMS Risk Forum India 2019: Top Risks and a Special Edition Magazine

Posted on by

rims risk forum india 2019

MUMBAI—”Why are we here?” asked RIMS CEO Mary Roth, welcoming over 100 risk professionals to the recent RIMS Risk Forum India 2019 in Mumbai. “If you look around this room, I think we all share very similar reasons. Risks are changing. Today’s risks seem more complex, and they hit our organizations faster. Think about our climate: heat waves, droughts, and other extreme weather events we’re experiencing. Data: it’s abundant and rich. Technology: it’s evolving overnight, and so are the related risks and opportunities.

online pharmacy avodart with best prices today in the USA

”

She added, “Expectations have never been greater for our organizations to quickly adapt and implement emerging technologies, address cyber exposures, brace for political change, and uphold ethical and social standards.”

The day’s sessions delved into critical issues like emerging technology, fraud, regulation, and building a risk culture, drawing upon expertise from panelists ranging from the C-suite to regulators themselves. Another key theme was clear to all in attendance: the rapidly shifting role of risk management in organizations across India, and the opportunities that new risks are presenting here.

top risks india 2019According to the new Marsh and RIMS “Excellence in Risk Management” report State of Risk Management in India 2019, which was unveiled at the forum, many of these issues dominate the risk landscape for organizations operating in the country. Indeed, cyberattacks, extreme weather, and data fraud or theft top the agenda for risk professionals in India this year.

Across 23 industries, a vast majority of senior risk professionals cited cyberrisk as their top concern, with 62% agreeing cyber poses the greatest risk to their organization—nearly four times the number who prioritized the runner up, weather events.

“India, like other countries, has been susceptible to malicious cyber attacks and there is growing awareness among corporates of the need to ensure they have appropriate cybersecurity controls,” said Sanjay Kedia, Country Head and CEO, Marsh India. “Firms need to keep up with the evolution of cyber threats if they are to capitalize on technology-based opportunities.

online pharmacy ocuflox with best prices today in the USA

This will require organizations to make additional investment to ensure they have adequate protection.

online pharmacy antabuse with best prices today in the USA

”

As the profession matures and expands in the region, risk professionals looking to earn a seat at the table are focusing on their potential to serve as a key strategic partner driving these investments.

“Global business leaders who have engrained risk management into the fabric of the organization’s strategic planning processes have become better equipped to make informed, proactive, and rewarding decisions,” said RIMS CEO Mary Roth.

“India’s risk management community continues to demonstrate its strength, as well as its passion for developing advanced capabilities that support growth and innovation.”

risk management india special edition coverTo that end, these top issues are also covered in greater depth in a recent special issue of Risk Management curated specifically for risk professionals in India. Originally available exclusively for attendees of this year’s RIMS Risk Forum India, Risk Management Special Edition: India is now available for readers worldwide. Check it out today and, if you have any feedback, we would love your input to help inform future international coverage—email your thoughts to HTuttle@rims.org.

Americans Mistrust Companies with Personal Data, Study Shows

Posted on by

According to a new survey by the Pew Research Center, most Americans believe that companies are tracking their activities on and offline, and that this activity is unavoidable. Not only that, but many also believe that they have little control over who can access an array of personal details, such as their location and online activity, including purchases they have made online or in person. This mistrust, coupled with the advent of more stringent data privacy regulations, means a more complex risk landscape for businesses operating online.

While companies often market services that collect data as improving the customer experience, those users likely disagree.

buy tenormin online www.northwestmed.net/wp-content/uploads/2023/10/jpg/tenormin.html no prescription pharmacy

In fact, 81% of the American public believe that the risks of companies collecting their data outweigh the benefits. This may have to do with a lack of understanding of what companies do with their data—59% say “they have very little/no understanding about what companies do with the data collected.”

It may also be a perceived lack of control over how companies are collecting and using that data, with 81% saying that “they have very little/no control” over companies collecting their data, and 79% “very/somewhat concerned about how companies use the data collected.” With more online activity, 72% of respondents said that “all, almost all or most of what they do online or while using their cellphone is being tracked by advertisers, technology firms or other companies,” and 64% report seeing ads based on their personal data.

Many companies outline how they use customer data in terms of service or other privacy disclaimers—according to the survey, 81% of respondents say they are asked to agree to a privacy policy at least once a month, and 25% almost daily. However, 74% report that they sometimes or never read a company’s privacy policy before agreeing, and only 22% read the entire text if they do read it.

Pew Data Trust

Security is also a worry, with 70% reporting that they feel like their data is less secure than it was five years ago and only 6% saying it is more secure today than in the past.

buy tretiva online www.northwestmed.net/wp-content/uploads/2023/10/jpg/tretiva.html no prescription pharmacy

Considering the vast array of data breaches, seemingly across all industries, this is likely not surprising.

buy albenza online www.northwestmed.net/wp-content/uploads/2023/10/jpg/albenza.html no prescription pharmacy

Millions of Americans have received notices from their banks, hospitals, or even their hardware store or ride-share app that their personal data has been compromised. According to cybersecurity company Norton, the first half of 2019 saw 3,800 breaches exposing 4.1 billion records, a 54% increase from the first half of 2018.

Given these results, it is no wonder that states, countries, and regions are beginning to enact strict regulations about data privacy. The California Consumer Privacy Act (CCPA), which provides protections for the data of California residents, also exposes businesses that collect, store, use and disclose those residents’ data to serious liabilities. In response to some companies hiding breaches from the public, states are also weighing stronger breach reporting requirements with larger fines for violations. Whether these efforts will diminish user mistrust is unclear—63% said that “they understand very little or nothing at all about the laws and regulations that are currently in place to protect their data privacy.”