June 2024 - CORSA-broadcast

Business Email Compromise: The $43 Billion Scam
by Frank Hatfield Dec. 13, 2024

Dec. 13, 2024

Business Email Compromise/Email Account Compromise (BEC/EAC) is a sophisticated scam that targets both businesses and individuals who perform legitimate transfer-of-funds requests. The scam is frequently carried out when an individual compromises legitimate business or personal email accounts through social engineering or computer intrusion to conduct unauthorized transfers of funds. The scam is not always associated with a transfer-of-funds request. One variation involves compromising legitimate business email accounts and requesting employees' Personally Identifiable Information, Wage and Tax Statement (W-2) forms, or even crypto currency wallets. Losses associated with BEC scams quadrupled last year to an astonishing $43 Billion according to the FBI statistics below. Just last week about $4 million in federal funding intended for housing assistance in Kentucky was stolen after someone directed that money to a private bank account. (Source: https://www.cnn.com/2022/08/29/politics/kentucky-4-million-cyber-theft/inde… ) "These types of attacks can be especially impactful to state and local governments that may do business with dozens, if not hundreds, or different vendors," Hassold, who is now director of threat intelligence at cybersecurity firm Abnormal Security, told CNN. FBI SUGGESTIONS FOR PROTECTION * Use secondary channels or two-factor authentication to verify requests for changes in account information. * Ensure the URL in emails is associated with the business/individual it claims to be from. * Be alert to hyperlinks that may contain misspellings of the actual domain name. * Refrain from supplying login credentials or PII of any sort via email. Be aware that many emails requesting your personal information may appear to be legitimate. * Verify the email address used to send emails, especially when using a mobile or handheld device, by ensuring the sender's address appears to match who it is coming from. * Ensure the settings in employees' computers are enabled to allow full email extensions to be viewed. * Monitor your personal financial accounts on a regular basis for irregularities, such as missing deposits. Source: FBI Public Service Announcement https://www.ic3.gov/Media/Y2022/PSA220504 CORSA is committed to keeping members informed of and protected against threats to their financial assets and systems. BEC and/or payment fraud is on the rise which creates considerable exposure to governmental entities, including CORSA members. Current technology provides sophisticated criminals the tools to create or alter checks or divert payments via BEC or social engineering. In addition to the FBI's above recommendations, CORSA strongly encourages members to enroll in the anti-fraud services Positive Pay and ACH Positive Pay. The Ohio Auditor of State also recommended enrolling in the above anti-fraud services to guard against check fraud. (See: Auditor of State Best Practices https://ohioauditor.gov/publications/bestpractices/best%20practices%20sept%…) Positive Pay is a service that essentially requires bank customers to provide their bank with a list of checks that are to be paid, while payment is withheld for any checks that don't match the customer's list. The ACH Positive Pay service allows a customer to set parameters on payments. For instance, payments that occur regularly with similar amounts can be set up to pay automatically, while any payments that fall outside normal transactions will be suspended until authorized. Most banks offer Positive Pay and ACH Positive Pay for a fee. In CORSA's experience fees vary, but customers are able to significantly lower fees through negotiation. Should you have questions regarding Positive Pay or ACH Positive Pay contact Thisbe Butcher at tbutcher(a)ccao.org<mailto:tbutcher@ccao.org> [Chart depicting Reported Loss Associated with BEC/Cryptocurrency Complaints for the years of 2018, 2019, 2020, and 2021.] Frank Hatfield CORSA Risk Manager fhatfield(a)ccao.org<mailto:fhatfield@ccao.org> 614-560-1474 614-220-0209 Fax www.corsa.org<http://www.corsa.org/> [cid:image002.png@01D8BD3E.0B6EC360] " The leader in providing Ohio Counties with exceptional value, service, and protection of assets." CONFIDENTIALITY NOTICE: This e-mail message (including any attachments) is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any unauthorized review, use, disclosure or distribution is prohibited. If you are not the intended recipient, please contact the sender by reply e-mail and destroy this message and all attachments.

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translation services
by Jenny Phelps July 9, 2024

July 9, 2024

I'm wondering what services other counties use for translators. We need a Spanish translator to speak to somebody about a sensitive subject but we're looking for services that offer many languages. Thank you, Jenny Phelps Loss Control Program Coordinator office: 419-774-6318 fax: 419-774-3581 -- CONFIDENTIAL: This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error, please notify the system manager. This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. If you are not the intended recipient you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited.

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Land Bank Director Position
by Pamela S. Davis July 8, 2024

July 8, 2024

I am looking for information from other Counties regarding: * Does the County employ a Land Bank Director? * If yes, is the Land Bank Director a sole position or do they perform dual duties under another County position? * What is the annual compensation for the Land Bank Director? * Is it a full time or part time position? For Example: Muskingum County has an employee that is compensated as a full time employee and holds the positions of: Director of Planning Commission ($30.83 hr. @ 20 hrs. week), GIS Manager (29.92 hr. @ 20 hrs. week), and Land Bank Director ($36,000 annually). Land Bank reimburses the County for Payroll costs and employee conducts work on County time. Thanks in advance for any information you can share. Thanks! Pam Davis Human Resources Muskingum County 740-588-4371

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Check Washing & Payment Fraud Alert
by Frank Hatfield June 27, 2024

June 27, 2024

Incidents of check washing and payment fraud are on the rise putting governmental entities, including CORSA members, at risk. We must remain vigilant during the summer vacation and holiday season to reduce the risk of being a fraud victim. Check washing is an old but effective way to steal public funds. Thieves get possession of a paper check, typically through the mail, then use chemicals to "wash" the payee name off the check and make themselves the payee. Then, cash or deposit the check to steal the County's money. Attached is a brief a brief overview prepared by the American Banker's Association Foundation with recommended measures to combat check washing. Similarly, payment fraud by phishing and/or business email compromise (BEC) is on the rise. This is where the objective of "re-directing" money to a bad actor, a cybercriminal pretending to be a vendor or employee of the government and then re-directing funds into fraudulent accounts. In these BEC/"re-direct" schemes the cybercriminal impersonates a trusted vendor, business partner or employee in an email and requests a change to the bank account, investment account, or a transfer of funds to a specified bank account unaffiliated with the legitimate business. Attached is an Ohio Auditor of State Bulletin 2024-003 on this topic that include preventative measures. CORSA, like the AOS, strongly encourages members consider enrollment in the anti-fraud services Positive Pay and ACH Positive Pay. Should you have questions about check washing, payment fraud, or CORSA risk management services please contact me. Frank Hatfield CORSA Assistant Director fhatfield(a)ccao.org<mailto:fhatfield@ccao.org> 614-560-1474 614-220-0209 Fax www.corsa.org<https://urldefense.com/v3/__http:/www.corsa.org/__;!!Op5JcThCjWm-UA!zzz1QnD…> [cid:image001.png@01DAC89F.92081750] " The leader in providing Ohio Counties with exceptional value, service, and protection of assets." CONFIDENTIALITY NOTICE: This e-mail message (including any attachments) is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any unauthorized review, use, disclosure or distribution is prohibited. If you are not the intended recipient, please contact the sender by reply e-mail and destroy this message and all attachments.

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