August 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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Happy Labor Day Weekend: Please be Safe on the Roadway & Stay Focused on Cybersecurity
by Frank Hatfield Aug. 30, 2024

Aug. 30, 2024

The unofficial end of summer is here. Labor Day weekend has arrived too soon for many, not soon enough for others. Please take a moment to plan for a safe holiday weekend on the road and cyber highway. Below are general tips to assist with your preparation, with links to more information. As always, feel free to contact Jim Hale or myself regarding CORSA loss control resources. We wish you, your peers, friends and family a happy and safe Labor Day weekend. Attackers strike the most during holidays and weekends when companies are vulnerable and under staffed. ⚠️ Attacks are more common during non-business hours, mostly due to less staff available to protect the company. ⚠️ Large, profitable companies tend to be the main targets but small businesses with less protection are also a target. ⚠️The attacks that occur during non-business hours take longer to investigate and resolve, which may slow response and notification. Action Items Protect your organization with these practices: ✅ Review cyber incident response plans, resiliency plans, and communications plans. ✅ Reiterate cybersecurity user awareness and training program tips that include guidance on how to report incidents. ✅ Tune endpoint protection, regularly update, and enable real-time detection for antivirus software on all hosts. ✅ Make (and test restore) an offline backup of your data. ✅ Confirm multi-factor authentication (MFA) is working as intended for all services possible. ✅ Confirm software and operating systems are up to date to download the latest security patches. ✅ Scan for open and unused ports and remove any application not deemed necessary for day-to-day operations. ✅ Add an email banner to emails received from outside your organization to warn employees. More Information 🔒 FBI - Ransomware Awareness for Holidays and Weekends https://www.cisa.gov/uscert/ncas/alerts/aa21-243a 🔒 Why do cyber-attacks increase during holidays? - Security Boulevard https://securityboulevard.com/2022/12/why-do-cyber-attacks-increase-during-… https://www.linkedin.com/pulse/prepare-now-holiday-weekend-cyberattacks-ris… National Safety Council urges all drivers to share the road responsibly by following these safety tips during this Labor Day holiday weekend—and always: * Prepare before you go: Before hitting the road, make sure your car is safe for driving. Vehicle owners should check the oil, put air in the tires, and check for and repair open recalls. Visit ChecktoPrtect.org<https://c212.net/c/link/?t=0&l=en&o=3953261-1&h=181857447&u=https%3A%2F%2Fw…> to see if your vehicle has an open recall, and get it repaired for free. * Buckle up: Lack of seat belt use is a top cause of fatalities in crashes. Buckle up, while also making sure you have appropriate car seats installed correctly<https://c212.net/c/link/?t=0&l=en&o=3953261-1&h=3783644550&u=https%3A%2F%2F…>. * Designate a sober driver or arrange alternate transportation: Holidays are a cause for celebration, but alcohol is only one cause of impaired driving. Drugs, including opioids, marijuana and some over-the-counter medicines, can cause drowsiness, alter visual functions and affect mental judgment and motor skills. * Slow down: Speeding is a factor in more than a quarter of all traffic fatalities<https://c212.net/c/link/?t=0&l=en&o=3953261-1&h=795979627&u=https%3A%2F%2Fi…>. Drive the speed limit or below it if conditions dictate. Be sure to pay close attention to those walking and biking in order to keep all road users safe. * Drive distraction-free: Thousands have died in car crashes involving cell phone use. Put your phones away and #JustDrive. * Look before you lock: Pediatric vehicular heatstroke is still the leading cause of non-crash motor vehicle-related fatality for children. So far in 2023, 19 children in the U.S. are reported to have died<https://c212.net/c/link/?t=0&l=en&o=3953261-1&h=1235261407&u=https%3A%2F%2F…> because of this completely preventable tragedy. Always check your back seat for children or animals when you reach your destination. https://www.prnewswire.com/news-releases/national-safety-council-calls-for-… 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@01DAFABC.12CE8150] “ 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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Winter is Coming! (And Not Just in Westeros)
by Jim Hale Aug. 27, 2024

Aug. 27, 2024

Every year CORSA members report losses, great and small, from the effects of cold , snowy, and wet weather. Bursting pipes, slips, and falls and just general hazards caused by winter weather. In fact, losses occurring in the winter months accounts for much of our yearly property losses as a pool. Please take a look at the attached materials and the following articles for assistance on getting your buildings ready for the winter season: https://www.buildings.com/building-systems-om/article/33037106/what-commerc… https://www.therushcompanies.com/blog/6-tips-prepping-your-commercial-prope… https://www.leecompany.com/resources/winterizing-your-commercial-property-p… https://ibhs.org/commercial/ James Hale, ARM-P, ARM-E Risk Control Consultant County Risk Sharing Authority 209 East State Street Columbus, OH 43215 614.246.1630 FAX 614.220.0209 " The leader in providing Ohio Counties with exceptional value, service, and protection of assets."

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