Resources to help boost security awareness for manufacturers
Businesses involved in manufacturing, whether in the United States or overseas, face unique security and fraud risks. They routinely deal with large vendor and supplier networks that hackers may try to infiltrate, they have intellectual property that may be an attractive target, and they frequently believe they are below the radar of cyber-criminals.
Marc Prosser, publisher for Fit Small Business, and I spoke recently about the issues confronting manufacturers. In his blog post, Marc highlights masquerading — a rapidly growing fraud scheme in which criminals impersonate a company executive or vendor to convince a company to wire funds out of the country.
It’s a particularly timely conversation since (1) Bank of the West just released our second manufacturing report, “Fortifying Your Business: Fraud & Security Measures for U.S. Manufacturers,” and (2) the FBI just released new data indicating that masquerading-type email fraud has amounted to more than $1 billion in losses in the past two years and affected more than 8,000 businesses in the U.S. and overseas.
I’d rather not see those numbers grow in the next year. I encourage you to click on the links above (and below), as they contain useful information that may help your business guard against masquerading and other threats.Other resources that may be useful for you: