Data and Financial Transactions Security - What You Need to Know, - - PowerPoint PPT Presentation
Data and Financial Transactions Security - What You Need to Know, Now! Rick Diamond, VP, Agency I.T. Director, FNTG rick.diamond@fnf.com @rdiamondFNF Why are you doing this and why should you care? Not because the cfpb wants you to
Data and Financial Transactions Security - What You Need to Know, Now!
Rick Diamond, VP, Agency I.T. Director, FNTG rick.diamond@fnf.com @rdiamondFNF
business!
Why are you doing this and why should you care?
Major Data Breaches
Credit Monitoring Companies
Top 5 cybersecurity statistics for 2017
2021.
91%percent of attacks by cyber criminals start through email
there is some good news coming!
Help is Coming in 2018 with Wi-Fi Protected Access 3
through individualized data encryption.
attacks, preventing hackers from making multiple login attempts by using commonly used passwords.
devices.
get it started. Both devices must have the WPA3 capability and also have it ENABLED. That means nothing anyone owns to date would be able to run it properly
2018
Think you’re Protecting your Data??
encrypted?
comply with security measures and procedures?
secure NPI?
Those darn Passwords!
➢Over 560 Million Passwords Discovered in Anonymous Online Database ➢In May 2016, LinkedIn had 164 million email addresses and passwords exposed ➢May 5th was World Password Day ➢Most stolen by Phishing attacks ➢Collection of 1.4 Billion Plain-Text Leaked Passwords Found Circulating Online ➢Hackers know users cling to favorite passwords and weak passwords, resisting changing credentials regularly and make them stronger. It’s why attackers reuse old passwords found on one account to try to break into other accounts
What should you do to protect yourself and your company?
Those darn Passwords!
stolen ones
–DashLane - https://www.dashlane.com/ –LastPass - https://lastpass.com/ –KeePass - http://keepass.info/
Hacking a human is by far the easiest way to get into a network! Take this opportunity to educate your Realtors and clients!
Is your Virus and Malware software up to date?
“Dave” strikes again!
scam using a fax faxzero.com
gone!
FBI - Internet Crime Complaint Center (IC3) https://www.ic3.gov
FBI IC3: EAC Statistics
December 2016 to May 2018
compromise (BEC) and email account compromise (EAC) scams exceed $12 billion globally, according to an alert published last week by the FBI
and May 2018, with over 41,000 victims reported in the United States. Targeted individuals and businesses lost or could have lost $12.5 billion, nearly $3 billion of which in the U.S. Losses increased by 136% between December 2016 and May 2018
2018
FBI IC3: EAC Statistics
January 1,2015 to December 31, 2017
estate agents, sellers, and buyers.
victims reporting the real estate transaction angle and an almost 2200% rise in the reported monetary loss. May 2018 reported the highest number of BEC/EAC real estate victims since 2015, and September 2017 reported the highest victim loss.” Good News!!! Wire fraud is 100% preventable !
2018
6061 Gate Parkway Jacksonville, FL 32256 (904) 248-7000
Cyber Fraud 2017
15$1.41B
Actual Loss
301,580
Fraud Complaints (826 per day)
4M
Total Complaints Since 2000
BEC Domestic Exposure (Est. Actual) January, 2016 to June 2017
2018
Now you’re a Target!
Where Cybercriminals will Attack Next
➢93% of all Phishing is now Ransomware
involvement
Phishing Advice
➢Empower users to alert on “phishy” emails. ➢Identify phishing recipients and recall/delete the email ➢Identify phishing recipients who clicked the link or opened the attached file ➢Expire credentials accessed from compromised host(s) ➢Investigate post-click communications from any infected hosts ➢Isolate the system so that malware cannot spread ➢Identifies and removes the malware ➢Prepend external emails with “Email from External Source”
Growth of Ransomware into 2017
and infection, payments have also seen a growth. Approximately $209 million was paid to criminals in the first quarter of the year. FBI estimates are even
to cyber criminals.
Growth of Ransomware in 2017
distribution, including email, website attachments, social media, USB drives and business applications.
Email Links Email Attachments
Growth of Ransomware into 2017
devices in a month. However, in March 2016 the Trojan variants managed to pollute 56,000 devices. These devices also included Macs
SamSam Ransomware
2015
are still on the rise, netting around $300,000 per month
ransomware relies on the human attacker to spread it
regular backups, use multi-factor authentication, restrict access to RDP(on port 3389), and always keep systems and software up-to-date.
2018
Ransomware - Don’t let this happen to you! A Trifecta of mistakes!
attachment
and password
Ransomware is the New Normal
something that more than half (56%) of companies have faced in the past two months.
at least one ransom, but only 26% of these companies had their files unlocked. Companies paying the ransom were attacked again 73% of the time.
ransomware, and 51% said backups and the ability to self- recover were their reason for not paying the ransom.
Cyber Liability
Cyber Liability provides coverage in the event you suffer a security breach, your customers’ non-public information is compromised and they sue you for damages and expenses. These costs are covered under the following Cyber Liability policy insuring agreements:
❖ Security and Privacy Liability ❖ Privacy Regulatory Defense & Penalties ❖ Data Recovery - Ransomware ❖ Customer Notification and Credit Monitoring Costs ❖ Data Extortion/Ransomware ❖ Multimedia Liability
Fidelity-Pak is now offering the following additional Cyber Liability Policy coverages to FNTG Agents
Fraudulent Wire Transfers by Insured – Outbound (Seller’s Fund) We will reimburse you for funds you wire to any incorrect party pursuant to a socially engineered wire instruction received by you up to $250,000 per claim subject to a $25,000 deductible. Fraudulent Wire Transfers by Third Party – Inbound (Buyer’s Funds) We will reimburse you for funds a third party wires to an incorrect party pursuant to a socially engineered wire instruction received by a third party that appears to have come from you providing a forensic review of your computer network was hacked or otherwise compromised up to $250,000 per claim subject to a $25,000 deductible.
Patch! Patch! Patch!
and applications such as browsers, plugins, desktop apps, etc. They include both security and feature patches, and are meant to fix or improve the software you use.
enhance our security online.
maintenance, but driving becomes more and more dangerous the longer you go on without a check-up.
The 10 Most Dangerous Celebrities to Search in 2016
The 10 Most Dangerous Celebrities to Search in 2017
Email Security, Backups, Business Continuity Lenders are Using this Opportunity to Ask
– Are you still using a “free” email service?
➢Disproportionate amount of spam ➢Your email may be viewed as spam ➢Easier targets for Malware Attachments ➢Yahoo hack – deleted and replaced wiring instructions!
➢ Yahoo says at least 1 billion accounts were hacked in 2013 and 500 million in 2014. The stolen data includes users’ names, email addresses, telephone numbers, dates of birth, hashed passwords, and security questions for verifying an accountholder’s identity. ➢ Hacked again – December 2016
➢AOL hack – agent not using added security feature ➢email will remain the most important entry point for malware for the next several years ➢Unprofessional
Professional Solutions
https://www.godaddy.com/email/professional-email
https://www.google.com/work/apps/business/
professional liability insurance to confirm it covers cybercrime and data breach.
Wire Fraud – Steps to Take
against business email compromise: 1) only use email that provides two factor authentication and make sure it is enabled 2) never wire funds based upon the content of an email. Always assume email has been hacked and validate all information over the phone 3) if you suspect a wire or check was sent fraudulently, contact the bank
4) I would recommend never allow wire instructions via email…phone or in person and CONFIRM even by phone! Watch out for altered payoff statements! Lender Routing #Verification http://routingnumber.aba.com/default1.aspx
Hit by Wire Transfer Fraud? Use the Kill Chain Process
fraud, corporate account takeovers, business e-mail compromise scams and other financially motivated crimes.
transfers stolen from the United States.
victim funds returned. Normal bank procedures to recover fraudulent funds should also be conducted. ➢ The FFKC can only be implemented if the fraudulent wire transfer meets the following criteria: ➢ the wire transfer is $50,000 or above ➢ the wire transfer is international ➢ a SWIFT recall notice has been initiated ➢ the wire transfer has occurred within the last 72 hours.
enforcement but the FFKC cannot be utilized to return the fraudulent funds.
Backups, Business Continuity Lenders are Using this Opportunity to Ask
Continuity? ➢What are your backup procedures? ➢What is your Business Continuity plan? ➢Are they documented and tested? ➢Infrascale – https://www.infrascale.com ➢Carbonite – https://www.carbonite.com Do you have a locally installed Production Software?
Third Party Hosting Companies
Realtor Resources
➢ Real Estate Technology News & Trends ➢ Real Estate Marketing Ideas & Strategies ➢ Real Estate Agent News ➢ Coaching Corner
➢ Marketing - Easily create marketing material in minutes (Free) ➢ Planning - Business and marketing plans for agents ➢ Lead Generation - Strategies to help you grow your business ➢ Social - Everything agents need to market their business using social media. ➢ $395 per month
2018
Useful APPS
This Doesn’t Have to be Overwhelming
and not overly expensive
Start thinking about the next big thing…
pseudonymous creator (or creators) Satoshi Nakamoto as a “peer-to-peer electronic cash system”. Although bitcoin is the best known digital coin, more than 1,600 are on the market with more being created all the time. Ether, Ripple and Litecoin are among the better known of the growing list.
growing list, or chain, of time-stamped transactions that cannot be altered. Each new transaction is added as a “block” to the chain. Blockchain is attractive to many users because it
source, with developers collaborating on the public Blockchain without necessarily being backed by a company. Now enterprises, which are by their nature centralized organizations, are increasingly interested in using Blockchain. Will this come to our industry?
with their own purpose-built Blockchain, there is deep skepticism over whether the technology can live up to the hype. Blockchain has proved difficult to scale and its use by corporations contains an inherent contradiction: Blockchain was developed to be decentralized — without that, it becomes simply a less efficient database.
2018
data and documents electronically Subsequent steps…D Electronic Signature Electronic Notary Remote Online Notary Hybrid Closing Full Digital Closing
Digital Solutions Team
Digital Transactions or e-Closings
2018
Bitcoin