BizSafe Security-Fraud Analysis
YOU DON'T KNOW WHAT YOU DON'T KNOW, BUT WE DO
The typical business loses 5 percent of its revenue to fraud and hacking each year. On average, these fraudulent activities continue for 18 months before they either stop or the fraudster is caught. Mostly, the owner has no idea that someone is stealing from the business until the FBI knocks at the door. The median loss per business is about $145,000 although nearly a quarter of cases result in losses over $1 million.
Small businesses and non profits are both the most vulnerable and the least able to weather the financial effect and damaged reputation that comes with these incidents.
Businesses are vulnerable from the inside and the outside. Your attacker could just as easily be a trusted employee as a hacker or cybercriminal. The National Small Business Council reported in June 2015 that 50 percent of small businesses had been victims of cybercrime in the previous year. That's up from 44 percent in 2013.
The FBI says there are two kinds of businesses: those that have been hacked and those who don't know they've been hacked. Their advice: "You are going to be hacked, get a plan."
BizSafe is the foundation of a plan, identifying your vulnerabilities and weaknesses, and telling you exactly how to fix the systems, processes, procedures or staff training that could be leaving you exposed.
BizSafe is a service offered by Portfolio and Wessel Accounting, a Greenville, SC, fraud investigation and forensic accounting firm.
What BizSafe clients say
Bizsafe conducted a financial and technology audit for my company last year - they did an excellent job meeting with every individual to review processes to ensure we were "safe" while also educating my staff for potential issues that could arise in the future. I highly recommend them to any growing business that wants to ensure they have proper measures in place to prevent fraud and data breaches!
– Paula Fulghum, CEO, Innovate HR
Haywood County (NC) Habitat For Humanity
I highly recommend Biz Safe to my non-profit colleagues. One of the biggest things our team learned is just because you don’t see things, it doesn’t mean they aren’t happening. The report we received from Biz Safe provided practical information that immediately became an important part of our operations planning. Our organization operates with limited resources to invest in technology. The technology review provided us with a terrific roadmap for policy, procedure, security measures, future purchasing, and implementation of hardware and software. The financial review identified areas for improvement and safety that a routine financial audit probably wouldn’t reveal. The overall Biz Safe report to our organization was concise, understandable, relevant, and uncomplicated to implement. For a non-profit working to safeguard its assets and deliver big results with limited resources, Biz Safe is a valuable investment.
– Jamye Sheppard, Executive Director, Haywood Habitat for Humanity-Waynesville, NC
Boykin Spaniel Rescue
... "Your review was the key that laid it all out in front of us so we could begin to get our arms around the changes that we need to make and your feedback was instrumental and will allow for more resources to be dedicated to what we do best-- saving the dogs that need us so desperately."
-- Jill Ann Freeman, Executive Director, Boykin Spaniel Rescue
Equifax's ginormous data breach pretty much puts an end to the question: Has my identity been exposed? Is there anything small businesses can takeaway from this? You bet: Size doesn't matter, but people do.
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Building a culture of cyber security in your business is a critical piece of any functional security. And if you don't know what that entails, October, national Cyber Security Awareness Month, is a great time to get started.
Hundreds of thousands of users wanted to cry after getting the WannaCry Ransomware variant. Still, there were protections out there and so there are some lessons to be learned.
Nonprofits live and die by volunteer contributions. But often they risk security in the process. There are some do's and don't's that can help you have both!
What's the real impact of the Internet privacy rollback and what's next on the president's agenda? Strap in. It's going to be a bumpy ride. (Thank you, Bette Davis!)
It was a good deed with a positive result, but it could easily have been a very successful and costly scam. So there are lessons to be learned from "the guy who walked into a bar".
Don't have a Yahoo! account? You may still have been among the 1 billion whose sensitive information was hacked if you have an account with one of any number of large companies that use Yahoo! to provide email and authentication services.
The Internet of Things has vast possibilities. But also great risks. Don't let your devices becoming unwitting conscripts in an Internet attack.
Planning for unexpected and unlikely is a hard thing. But ask businesses up and down the South Carolina coast how important it is to have an emergency plan. Hurricane, tornado. power outage, ransomware - the disaster may be different, but you need a response.
Recent data breaches, like the Bon Secours exposure of 655,000 records, illustrate a major cyber security problem: It's not enough to have a good handle on your own security - you need to know how your partners and vendors are protecting your data as well.