Digital Forensics & eDiscovery for the Financial Executive

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Digital Forensics & eDiscovery are concepts that can negatively impact an organizations financial statement. CFO's and other executives need to know about these processes and how to manage them or risk going broke... and being held responsible.
Highlights:
Employee lawsuits on the rise
FCPA is a growing risk
Spoliation is YOUR fault
Security Analytics keeps costs low... and protects data
Cost saving tips



Published in: Technology, Business
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Digital Forensics & eDiscovery for the Financial Executive

  1. 1. FEI – Western Mass Digital Forensics & eDiscovery (the Ba$ic$) The Lorenzi Group(c) 2012 - The Lorenzi Group LLC – All Rights Reserved 1
  2. 2. Employee LawsuitsMedian Employer Cost: $326,640.00 (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  3. 3. FCPAMean Average Fine (2011)$20,000,000.00 (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  4. 4. Internal Investigations SKYROCKETINGUp an average or 50% across all sectorsLarger companies using more frequently MITIGATION is the Goal (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  5. 5. Metadata What is it? Examples you know(c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  6. 6. Electronic Information Documents Emails Instant Messages Videos (Skype) Maybe even voicemails…..Computers, smartphones, copiers, Xbox, Cars…and coming soon to a refrigerator near you! (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  7. 7. DataNot words in a book; Cheese on a pizza! (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  8. 8. Digital Forensics: The ProcessDigital Forensics Using a 35MM CameraCreate a FORENSIC Load Film & TakeImage PicturesProcess Image (Data Develop FilmCarve & Index)Analyze Data, Search Decide which PicturesTerms, etc you likeReporting & Testimony Scrapbook Photo Album (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  9. 9. Your WORST Nightmare SPOLIATION What is the fastest way to “win” a lawsuit? Drive up eDiscovery costs!*NOTE: The only ones who “win” lawsuits are the lawyers! (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  10. 10. Ounce of PreventionPlanning mitigates costs Data segregation Vendor strategy Data & User Monitoring (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  11. 11. Proactive “Forensics”Doc’s, Email, IM’s, Skype (video calls), etc.Resource/Program UsageUser Activity/In-ActivityDocument Access & ChangesWebsite VisitsFile Transfers, CD Burns, USB ThumbdrivesMore (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  12. 12. Cost Justification1. Segregated data saves Time, Money, & Scope2. Vendor Action Plans can reduce costs by 20%3. Data & User Monitoring 40% Online Fraud is EMPLOYEE driven! Employees SELF REPORT 1-3 hours of wasted time at work. (Salary.com Inc 11/19/2010) What isn’t being self reported??? 15 minutes of increased productivity = 2.5% (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  13. 13. From eDisaster to eDiscovery Digital Forensics is the 1st stepE-Discovery Converting paper Results of Digital ForensicsReview for Privilege & RelevancyMark & Share (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  14. 14. RealityThis is not going away…… (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  15. 15. Doesn’t NEED to be ExpensiveExpensive is a relative term….Planning ahead, saves more money than timeIf it can be captured, it will be asked for (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  16. 16. Cost Saving Tips & TricksBe LIBERAL on Preservation,CONSERVATIVE on RestorationIt is NOT “all or nothing” (unless you wait toolong)The hidden killer is Monthly Storage FeesDemand Flat Rates & Fixed Pricing wheneverpossiblePush vendors to work together (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  17. 17. Digital Forensics CostsPreservation: < $1000 per ImageRestoration: $500 per ImageData Extraction & Analysis: $4-5K per ImageDeposition & Testimony not includedBudget $6K per media imagedMake hard decisions @ $3K (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  18. 18. eDiscovery CostsVaries WidelySTOP paying by GB (gigabyte)!!Pay Hourly or Fixed Price – Savings are in the70% range… sometimes moreOnline Hosting is expensive, but MAY be cheaperthan in-houseExpect to pay $5-10K per media image, push for$10K Total (DiFo & eD) (c) 2012 - The Lorenzi Group LLC – All Rights Reserved
  19. 19. Q&A Robert Fitzgerald The Lorenzi Groupwww.thelorenzigroup.com 866-632-9880 x123 (c) 2012 - The Lorenzi Group LLC – All Rights Reserved

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