Scamming, phishing, pharming, vishing — people in the business world are well aware that hackers and other fraudsters have developed a myriad of schemes designed to obtain sensitive personal information and money. Every year, these schemes cause businesses to suffer significant financial losses. The FBI estimates that in 2020 business email compromise (“BEC”) and email account compromise (“EAC”) schemes caused losses of $1.86 billion. To combat these schemes, companies spend thousands of dollars to secure their computer systems and train their employees to recognize and prevent fraudulent schemes from succeeding. But no matter the preventative steps taken by businesses, hackers and fraudsters manage to stay one step ahead with new, creative schemes.
A recent fraud that businesses have unfortunately experienced is EAC, where hackers gain access to and use legitimate business email accounts of vendors and service providers to direct customers to send money to unauthorized accounts. EAC affects businesses ranging from small to large and can occur in any industry, including financial institutions, real estate, contractors and law firms. In a typical EAC scenario, hackers gain access to a person’s actual email account and are able to monitor the incoming and outgoing correspondence in order to learn business practices, customer information and payment terms. At an appropriate time, the hackers use the email account to send payment instructions to a customer who legitimately owes money to the purported author’s company. The customer receiving the email has likely communicated with the company and its employees previously and, having no reason to suspect the hacking, follows the directions and sends payment (ranging from thousands to millions) to a fraudulent account. By the time everyone realizes what has happened, the hackers and the money are long gone.
Because EAC is a relatively new fraud phenomenon, very few courts have had the chance to consider and decide the issue of who amongst the affected parties will ultimately bear the loss. Published legal decisions suggest that courts are tending to place liability on the party who was, in a given factual scenario, better able to prevent the fraud.
As governing legal doctrines are established, however, businesses are left to figure out how best to protect themselves from EAC and the resulting losses. Thankfully, numerous means of protection from EAC schemes are available. Three of the easiest are: (1) documentation, (2) communication and (3) insurance.
Prior to doing business with each other, vendors and their customers should memorialize the terms of their relationship in written contracts. In addition to the typical terms one expects to see in contracts (e.g., scope of work, agreed upon price and timelines, etc.), authorized payment methods and allocation of risk should be included. By agreeing up front as to how and where payments are to be made, the parties can ensure that any potential future EAC communications regarding payment will be immediately flagged and investigated. Moreover, by delineating who bears the risk of loss, should computer systems be compromised and payments be diverted, the parties will understand the duties and obligations they owe to one another and will hopefully take the steps necessary to protect their systems.
When payments are owed and transfer of money between businesses is necessary, any emails received that contain directions for payments to be made to specific accounts or by certain methods should be verified prior to release of funds. The employee responsible for initiating the transfer of funds should not simply trust the email, even when it appears to have been sent from a legitimate and verified email account. Instead, they should personally reach out to the person who supposedly sent the email, either in person or via a telephone call, to confirm the directions are legitimate and the accounts actually belong to the company that is ultimately entitled to receive the payment. Only after successfully verifying authenticity of the payment instructions should the person initiate the fund transfer.
Businesses can and should obtain cyber-security insurance riders (which are not automatically part of standard business insurance policies) that provide coverage for losses caused by EAC and other information security breaches. Such policies provide an added layer of protection for companies when fraud is not timely discovered or prevented. All businesses should ask their insurance agents to confirm what cyber-security insurance options are available to them.
Although EAC and other information security fraud will unfortunately continue to plague the business world, companies can, by implementing these recommended practices, often prevent and/or protect against the significant consequences they might otherwise face.
About this Author
For more than 20 years, Heather has focused her practice on commercial litigation. She has represented individuals, as well as businesses in a broad spectrum of industries, including contractors and manufacturers, financial institutions, luxury good retailers, real estate developers, closely held corporations, partnerships and publicly traded companies. Her clients have ranged in size from small start-ups to large global conglomerates and everything in between.
She has extensive litigation experience in a wide variety of legal disputes, including trademark and copyright infringement…
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Carrots Have These 8 Amazing, Surprising Health Benefits
Initially, the vegetable originated in the geological area and the Asian United States, and it was initially only available in purple and yellow hues. Carrots are an excellent source of beta carotene, a natural mineral introduced by the body to provide sustenance, and they are high in fibre.
Carrots, which are crunchy, orange, and delicious, provide a variety of benefits to our health, pores, skin, and hair. These don’t appear to be particularly tasty, but they are loaded with numerous important nutrients, for example, beta-carotene, cell reinforcements, potassium, fibre, sustenance K, and so on.
Carrots are cultivated to promote eye health, lower dangerous LDL cholesterol, and aid in weight loss. Let’s put it to the test and find out why carrots are so good for you!
The following are twelve effective edges you might get from carrots:
1. Supports gadget
Most importantly, carrots contain a few phytochemicals that are well-known for their cancer-causing properties. Carotenoids and carotenoids are present in more than one of these associations. Overall, compounds create resistance and activate specific proteins that prevent the growth of most tumor cells. An investigation reveals on a screen that carrot juice can also fight leukemia.
2. Advances Glowing Skin
Investigate tips that stop outcome, and vegetables well off in those composites will finish pores and pores and skin ground and work with people’s appearances, thus making them more noteworthy young.
3. Fortifies Bones
Carrots are high in vitamins, minerals, and cancer-fighting agents. Vitamins B6 and K, potassium, phosphorous, and other minerals contribute to bone health, a more durable, and help with mental performance. Aside from selling the body to free extreme annihilation, cancer prevention agents keep an eye on the casing in the course of dangerous microbes, infections, and diseases. Physical cell digestion is managed by the ophthalmic component. Carotenoids have been linked to improved bone health.
4. Advances Male physiological circumstance (ED)
These fruitfulness meals may increase the number of sperm cells and their motility. According to research, this is a direct result of the fake carotenoids found in carrots, which are responsible for the vegetable’s orange color. However, it is still unknown whether carrots can improve sperm enjoyment and motility. Carrots are being tried to improve food for male physiological conditions and erectile dysfunction. Cenforce FM and Cenforce D can be used to treat impotency.
5. Keeps From Cancer and Stroke
Carrots have an unusual endowment in that they are loaded down with anti-cancer resources that will depress the cells’ blast. Essentially, studies have discovered that carrots can reduce the risk of a variety of diseases, including colon, breast, and prostate cancer.
6. Further develops the natural framework Health
Carrots contain a significant amount of dietary fibre, which plays an important role in supporting healthy stomach function. Fibre expands your stool, allowing it to pass more easily through the stomach-related plot and preventing stoppage.
7. Assists with managing polygenic affliction and basic sign
Carrots are high in fibre, which promotes cardiovascular health by lowering LDL cholesterol levels in veins and blood vessels. Calcium is absorbed through the frame of carrots, resulting in low but dangerous cholesterol levels.
Carrots have an unbalanced fibre content. An investigation found that advanced fibre consumption improves aldohexose digestion in people with the polygenic disorder. Following a healthy, well-balanced diet and maintaining a healthy weight can reduce the risk of type 2 diabetes.
Inconsistencies in glucose digestion may require a high level to combat aerophilic strain, and this is frequently where the inhibitor nutrients dilettanti ophthalmic thing axerophthol fats-solvent sustenance may also benefit.
According to one review, juice provided a 5 wrinkle inside the beat fundamental sign. The supplements in carrot juice, with fibre, K, nitrates, and vitamin C, have all been obtained to help this final product.
8. Advances Healthy Heart
To begin with, each cancer prevention agent is beneficial to your coronary heart. Furthermore, at 0.33, they should contain fibre, which can help you stay in shape and lower your chances of having a heart attack.
9. Forestalls devolution
Edges that are hostile to ophthalmic detail ensure the floor of the eye and provide a sharp inventiveness and perception. Taking juice will help to delay many eye diseases, such as macular degeneration, cataracts, and visual impairment. Overall, carrots contain lutein, which is an inhibitor that protects the eye from obliterating light.
10. Works on urinary organ and Liver perform
Carrots contain glutathione. Cell reinforcement has been shown to be effective in treating liver disease caused by aerophilic strains. The greens are high in plant flavonoids and beta-carotene, both of which stimulate and develop your popular liver component. Carrots contain carotenoid, which can help fight liver problems.
11. Palatable Anti-Aging
Along with carrots on your regular food, you will appreciate limiting the way you get more seasoned. Furthermore, beta-carotene functions as an inhibitor that advances cell harm, which happens as a result of the casing’s normal digestion.
12. Advances Weight Loss
Uncooked Carrots are 88% water when raw or ebb and flow. A regular carrot has the lowest difficulty level of 25 energy. Taking everything into consideration, including carrots in your diet is a wise way to fuel yourself while collecting calories.