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Category: IT security

October 7, 2022

Quick Reference: Cyber Liability Insurance

Quick References are high-level insights about critical issues and concerns facing your organization. Our outsourced accounting and advisory group is available to help you implement solutions. Click here to view other Quick References and to sign up for email alerts when future Quick References are released. Standard business insurance policies may provide coverage for certain types of cyber incidents. For instance, if you lose electronic data as a result of a computer virus or hardware failure, your insurance may pay recovery… Read more ›

June 29, 2022

Federal Trade Commission’s Safeguards Rule Amendments Set to Intensify Auto Dealership Date Security Measures

Automotive dealerships are no strangers to strict measures surrounding customer data security. They have been complying with the Gramm-Leach-Bliley Act’s (GLBA) Safeguards Rule for more than 20 years. But the Federal Trade Commission (FTC) amended the 2003 Safeguards Rule on October 27, 2021, to require additional controls for existing security compliance processes to better combat increased data breaches and online security risks. While the revised rule took effect on January 10, 2022, certain requirements, such as the appointment of a… Read more ›

October 3, 2018

Steps to Strengthen Your Cybersecurity Initiatives

It is very likely that in the past week you have received at least one, if not multiple, phishing emails containing malicious attachments or requesting large-scale wire transfers. As cyberattacks evolve and hackers become more sophisticated, cybersecurity is now more important than ever. Reaching the highest figures to date, the Identity Theft Resource Center reported 1,579 data breaches and 179 million records compromised nationwide in 2017. Hacking (which includes phishing, ransomware/malware, and skimming) continues to rank as the highest attack… Read more ›

September 18, 2017

Councilor, Buchanan & Mitchell (CBM) Expands System and Organization Control (SOC) Audit Expertise for Service Organizations

Councilor, Buchanan & Mitchell (CBM) has expanded its System and Organization Control audit services. This capability offers a mid-sized firm alternative for service organization seeking certification to demonstrate the integrity of their internal controls and ability to serve as an effective third-party steward of financial and non-financial data entrusted to them by clients. “As organizations encounter stories of data mismanagement and security breaches that expose their clients and customers to risks such as fraud and theft, the level of scrutiny… Read more ›

June 13, 2017

AICPA Unveils Cybersecurity Risk Management Reporting Framework

One only needs to skim the daily news to realize that hackers are getting better and cybersecurity is more important than ever. The most recent cyberattack was a strain of ransomware that spread itself across all workstations in a network, causing a global epidemic. Luckily, a programmer developed an internal “kill switch,” which disabled the malware from spreading any further. Regardless of whether your system was impacted by this outbreak or not, there are many lessons to be learned. Principally,… Read more ›

March 7, 2017

Auto Dealers: Make Cybersecurity a Top Initiative in 2017

Auto Dealers: Make cybersecurity a top initiative in 2017 One only needs to read the daily news to realize that hackers are getting better and cybersecurity is more important than ever for dealerships. Potential threats include theft of dealership property, customer service privacy, dealership reputation damage, financial penalties and lost customer trust.  Your cash and customer information are desirable targets from a cyber attacker’s perspective. Even small or medium-sized dealerships who outsource their IT functions are targets for cyber fraud… Read more ›