CPAs have their guards up regarding cybersecurity. The American Institute of CPAs (AICPA) hosted the eight-week webinar “Cybersecurity Fraud: What CPAs Should Know” to educate accounting professionals about an “expansive overview of all aspects of cyber security.” Those aspects include discovering security threats, understanding security frameworks and making risk assessments. The risks these days are greater when you consider the prevalence of cloud computing, mobile devices and social media. Keeping in mind, too, that just this month Yahoo admitted/announced that upwards of 500 million email users accounts had been infiltrated (including passwords and other security verification information). The company claimed the breach was a “state-sponsored” hack, although that claim has been met with some suspicion. To read more, visit http://kewhomin.net/

1. CPAS &
CYBERSECURITY
BY KEWHO MIN
KEWHOMIN.NET

2. CPAS HAVE THEIR GUARDS UP
REGARDING CYBERSECURITY.
THE AMERICAN INSTITUTE OF
CPAS (AICPA) HOSTED THE
EIGHT-WEEK WEBINAR
“CYBERSECURITY FRAUD: WHAT
CPAS SHOULD KNOW” TO
EDUCATE ACCOUNTING
PROFESSIONALS ABOUT AN
“EXPANSIVE OVERVIEW OF ALL
ASPECTS OF CYBER SECURITY.”

3. Those aspects include discovering
security threats, understanding
security frameworks and making
risk assessments. The risks these
days are greater when you consider
the prevalence of cloud computing,
mobile devices and social media.
Keeping in mind, too, that just this
month Yahoo admitted/announced
that upwards of 500 million email
users accounts had been infiltrated
(including passwords and other
security verification information).
The company claimed the breach
was a “state-sponsored” hack,
although that claim has been met
with some suspicion.

4. THE WALL STREET JOURNAL
REPORTED THAT AICPA IS TAKING
ITS BEST PRACTICES WHEN IT
COMES TO CYBERSECURITY ONE
STEP FURTHER. THE NEW MEASURE
WILL TARGET AN INCREASINGLY
POPULAR FORM OF FRAUD CALLED
“EXECUTIVE IMPERSONATION”
THAT TARGETS EMPLOYEES WITHIN
ORGANIZATIONS.

5. “THE SCAM INVOLVES AN EMAIL SENT
FROM AN EXECUTIVE TO A SUBORDINATE
ASKING FOR A WIRE TRANSFER OR
PAYMENT TO A NEW BANK. THE
ATTACKERS TEND TO TARGET COMPANIES
WITH FOREIGN SUPPLIERS OR UNITS THAT
REGULARLY PERFORM WIRE TRANSFERS
TO FOREIGN BANKS, AND STRIKE WHEN
EXECUTIVES ARE TRAVELING AND
CANNOT BE REACHED.”
-WALL STREET JOURNAL

6. EMPLOYEES ARE VULNERABLE TO THIS
KIND OF ATTACK BECAUSE THEY “GET
NERVOUS BY GETTING AN EMAIL FROM THE
CFO AND THINKING ‘I HAVE TO DO THIS.”

7. THE AICPA HAS RELEASED A FRAUD
REPORT THAT IS “AIMED AT IMPROVING THE
WAY ACCOUNTANTS AND COMPANY
MANAGERS DISCLOSE CYBERSECURITY RISK
MANAGEMENT PROGRAMS.”
THERE IS A GROWING DEMAND FOR CPAS
TO BE INFORMED AND EFFECTIVE WHEN IT
COMES TO FRAUD-PROTECTIVE PROGRAMS.
CPAS ARE ON THE BATTLEGROUND TO
ENFORCE CYBERSECURITY ENGAGEMENT.

8. BY
KEWHO MINKEWHOMIN.NET