As a part of CTC’s initiative to prepare Connecticut businesses for cyber threats, its members and affiliates met at Goodwin College in East Hartford to discuss cybersecurity extortion and fraud. This marks the third, and final, meeting of CTC’s Cybersecurity Seminar Series this year.
Members and friends of CTC arrived at Goodwin College early September 30th to enjoy a light breakfast and networking before the start of the program. Coffee, muffins, yogurt and danishes were served while the attendees mingled with other concerned business owners and cybersecurity experts. Once seated, Deputy Commissioner William P. Shea kicked off the program with a keynote address on cyber threats and security.
William P. Shea was appointed by Governor Dannel P. Malloy in May 2012 as the deputy commissioner of the Department of Emergency Services and Public Protection. He is responsible for the Division of Emergency Management and Homeland Security and is a wealth of knowledge when it comes to understanding, and protecting yourself, from a cybersecurity attack.
“Ninety-four percent of attacks actually start on the inside. Whether it be malicious or not, trusted personnel can do the most damage,” he said.
Shea went on to explain how phishing, viruses, and malware are some of the most common, and damaging, ways that cyber criminals infiltrate a system. He also explained who criminals tend to target (CEOs and those higher up on the food chain), how these criminals attack, and how to keep yourself from being an easy target.
Here are Shea’s simple, proactive, steps to keeping your business protected:
After Shea’s presentation, Leon Pintsov, CTC board of director and CEO of SignitSure, gave a riveting talk on bitcoin and how it is used in cyber extortion and fraud incidents.
“The interesting thing is that bitcoin hasn’t really been seriously attacked yet,” Leon said.
After the keynote discussion the panel took the stage to further discuss cybersecurity extortion and fraud. Some hot questions included cybersecurity insurance, and whether or not you can expect your insurance provider to cover damages. According to Joseph Coray, a VP at The Hartford, it all depends on the claim and the terms of the policy. He advised that companies be proactive and diligent by setting up safe guards as some insurance companies may treat an insured’s negligence as a reason to adjust coverage.
Moderator: Patricia Fisher, President & CEO of JANUS Associates; Board Members of CTC; Chair of CTC Cybersecurity Task Force
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