Axiom Cyber Solutions Prevents Cyber Attack on Local Business Within Hours of its Opening

Axiom Cyber Solutions Prevents Cyber Attack on Local Business Within Hours of its Opening

Kangamoo Indoor Playground Faced Hacker Attack On Opening Day, Reinforcing Risk to Small Businesses

Las Vegas—When Kangamoo Indoor Playground opened for business recently, one of the last things owners Mimi and Shawn Wachter expected to face on opening day was a cyber attack.  But after having their network online for just a couple of hours, the small business was targeted by hackers looking to access sensitive customer information.

“We’re a small, independent indoor playground—we didn’t expect to face an attempted data breach ever, let alone just hours after opening our doors to the public,” said Mimi.  “You hear about this kind of thing happening to large corporations with millions of customers; it was really off our radar that a tiny, new business like ours would be targeted.”

Fortunately for the Wachters, they had enlisted Axiom Cyber Solutions’ services prior to opening, so the attack was detected by Axiom and thwarted.

“Small business owners think they’re immune to these types of attacks—the perception is that hackers only target systems with millions of people’s personal information, but it doesn’t work that way,” said Troy Wilkinson, CEO of Axiom Cyber Solutions.  “Hackers don’t see company names—they see numbers, and they don’t discriminate.  Kangamoo wasn’t a name to these attackers, it was merely a potential goldmine of sensitive customer information.”

Wilkinson, who runs Axiom Cyber Solutions with his wife Shannon Wilkinson, said that 60 percent of businesses close within six months of experiencing a cyber breach.

“Most small businesses don’t have an IT department, let alone a cyber security pro,” said Shannon, President of Axiom Cyber Solutions.  “The average cost of a data breach to a business is $36,000, which is absolutely devastating to many small businesses.”

The Wachters said they were sold on Axiom’s services after talking with them while Kangamoo Indoor Playground was under construction.

 

“Axiom was incredibly affordable for us, and easy to set up with our network,” said Mimi.  “After weighing the risk of what a breach could cost our business and wanting to protect our customers as best as possible, it was a no-brainer to secure our network.  We really didn’t expect our modest investment to pay off so quickly!”

Shannon adds that recent data shows that 71% of hacks targeted small businesses.

“Small businesses don’t think they will be targeted, and they don’t think they can afford protection, and that’s why we founded Axiom,” said Shannon.  “In our one year of business, our system has prevented hundreds of attacks on small businesses and kept thousand’s of people’s sensitive information safe.”

Kangamoo Indoor Playground’s customers, of course, are among them.

“It was terrifying to think of what we would have gone through that first day if we hadn’t had Axiom protecting our network,” said Mimi.  “To think of having to announce to customers that their information had been compromised a couple hours after visiting us for the first time—who would have trusted us again?  Imagine if we had to close our doors just as we were getting them opened!  We couldn’t be more grateful to Axiom for protecting our business and our customers—we’ll never be without this service.”

Axiom Cyber Solutions

Axiom Cyber Solutions is a Las Vegas-based cyber security company responsible for some of the most unique and most capable security appliances on the market. Axiom has a proprietary Denial of Service mitigation algorithm and currently produces the world’s most powerful DDoS mitigation appliance. Axiom also has a proprietary ransomware algorithm built into every device they produce that can stop nearly 100 percent of ransomware infections. Axiom focuses mainly on providing a low cost monthly subscription to small businesses that includes a $3,000 firewall at no upfront cost. Axiom then manages, monitors and updates that firewall for the business at a cost of under $200 per month.  For more information, visit www.axiomcyber.com

Why Do Small Business Owners Need to Worry about Cyber-Security?

Why Do Small Business Owners Need to Worry about Cyber-Security?

Unfortunately, for small business owners, the thought that they are too small to be a target is simply inaccurate.

According to the US House Committee on Small Business, 71% of cyber attacks target businesses with fewer than 100 employees.
~ US House Committee on Small Business 2015

The average total cost of a cyber-security breach is $36,000 for a small business.
~ Better Business Bureau 2015

60% of small businesses that are hacked go out of business within six months due to the loss of reputation, financial repercussions, and the inability to recover from downtime.
~ National Cyber Security Alliance

Cyber criminals took an average $32,000 from small-business accounts.
~ National Small Business Association 2015

Ransomware saw a 165% rise in 2015 netting cyber-criminals a whopping $325 million in ransom.
~ McAfee Labs Threats Report & Cyber Threat Alliance 2015

The Federal Trade Commission now has the power to punish organizations that fail to invest in and deliver robust cyber-security measures.
~ Third U.S. Circuit Court of Appeals 2015

There are two types of companies: those who have been hacked, and those who don’t yet know they have been hacked.
~ John Chambers, CEO of Cisco

Businesses today are going to have to rely on their own resources if they want to protect themselves from cyber attacks. This is because law enforcement is limited due to both a lack of trained staff as well as the inability to prosecute criminals both in and outside of our borders.

So what are small businesses who can’t afford a trained cyber security staff supposed to do?  The keys are education, and effective multiple layers of defense.

More than 40% of cyber attacks are successful because they begin with your employees.  They take advantage of natural human curiosity, and the general desire of most employees to be helpful. A simple click on a link in a suspicious email, holding the door for a stranger to enter a secure area, or giving a login and password to someone pretending to work for the IT department can lead to devastating results to a small business’ data and computer systems.

Therefore, it’s imperative that you make the effort to increase your employees’ awareness of the very serious and growing trend of hackers targeting small businesses. Make sure they are educated about the dangers of social engineering attacks. And in situations where they are concerned about the legitimacy of an authority figure wanting access to a computer or secure area, make sure they are given the freedom to say “No” without fear of repercussion, and have the policies in place to support that.

From a technical standpoint, most small businesses have only a limited budget that they can devote to protecting their computer systems and data.  The key, again, is defense in depth – systems and procedures that provide multiple obstacles for cyber criminals to have to traverse to get to your data.  To do this:

  • Make sure you ALWAYS keep your software and operating systems up-to-date.  It’s annoying to have to wait, to reboot, and deal with changes. But be assured, if a software company sends out an update on Tuesday, you can be sure that Tuesday night cyber criminals are researching the weaknesses those updates are correcting and are attacking on Wednesday. They know many people put off an update because it’s inconvenient. So, like a lion picking off the stragglers in a herd, they search for computers that have not yet been updated.  Hackers like to take advantage of inconvenience.
  • Use a high quality anti-virus software program that is regularly updated. In “the old days” hacking was something bored kids used to do after school for fun. Today, it’s BIG business and new viruses and malware are constantly being created to get your data. An anti-virus product that hasn’t been updated for months is nearly as useless as not having one at all. A relatively small investment in this kind of protection will pay off in unknown ways.
  • Keep your systems and data backed up regularly.  With the proliferation of ransomware, cyber criminals have found a very lucrative way of making money by encrypting your data and holding it “hostage” until you pay them to unlock it. Even the FBI is advising that you just pay the ransom as the time and money to unlock it is outrageous.  Unless you have a technical solution to prevent this from happening in the first place, your only other option is to restore your system from a healthy back-up (one that doesn’t also have ransomware in it).  Without it, you are what you’d be if you were attached to another object by an inclined plane, wrapped helically around an axis (look it up).
  • Find a provider of a managed next generation firewall solution for your business. A Managed Firewall is a firewall that is monitored, managed, and kept  up-to-date by cyber-security experts outside of your company. And a Next Generation Firewall will provide necessary multiple layers of defense to your entire computer network, not just the computer sitting on your desk.

Managed next generation firewalls offer several benefits to small business owners, such as:

  • Reduced resources and expenses
  • Compliance to various security regulations such as HIPAA and PCI DSS
  • No licensing costs
  • Understandable reporting

One such provider of a managed next generation firewall is Axiom Cyber Solutions.  At Axiom Cyber Solutions, we strive to make managed cyber-security affordable to small businesses that may not have a large IT budget. Starting at just $199 per month, with no long term obligation, Axiom Cyber Solutions provides a fully configured enterprise class next generation firewall to secure your business against today’s threats and those of tomorrow.  If you would like to know more, contact us at info@axiomcyber.com or call me at 1-800-519-5070.

Cybersecurity Lunch & Learn

Cybersecurity Lunch & Learn

Last month we hosted a Cybersecurity Lunch and Learn for Small Business Owners with some of our local partners, Orbis Solutions Inc, ViaWest, and Alpine Insurance.

There are two types of companies: those who have been hacked, and those who don’t yet know they have been hacked.

John Chambers, CEO of Cisco

We have seen a dramatic increase in the number of small and medium sized businesses falling victim to ransomware, phishing, malware and a variety of other nasty cybercrimes.

71 percent of cyber-attacks occur at businesses with fewer than 100 employees.

US House Small Business Committee, 2015

 

Besides giving small business owners an awareness that they are a target, getting protected is not an impossible task. There are easy ways for small businesses to get the same type of cybersecurity protection that large enterprises have.

 

If you are a business owner or executive that wants to know how to get cybersecurity protection, join us for our next lunch & learn scheduled for May 18th. Call our offices at 800-519-5070, Ext 1000 and RSVP today. Space is limited.

Why Cybersecurity MUST be a Board Issue

In recent years, there’s been an overwhelming number of cyber crime incidents occurring. Boards need to be more proactive in their cybersecurity. The number of cyber attacks over the past few years have forced all C-level executives to become more educated about their cybersecurity. Gone are the days where cybersecurity is passed off to the IT department. While many executives may find it difficult to follow because of a lack of knowledge or simple disinterest, it is essential to take an active role. Otherwise, there may be potential shareholder lawsuits and even the possibility of being removed from the board. If a business fails to explore this, they will be followed by serious consequences. Lawsuits are a guarantee for when there is a cyber breach or data breach.

According to Director & Boards author Tom Horton, “A primary responsibility of every board of directors is to secure the future of the organization. The very survival of the organization depends on the ability of the board and management not only to cope with future events but to anticipate the impact those events will have on both the company and the industry as a whole.”

The Institute of Internal Auditor’s Audit Executive Center did a survey, and boards agree that cyber security preparedness has increased but shared that only 14% of those folks were actually actively involved.

The National Association of Corporate Directors (NACD) published 5 principles that all corporate boards should consider “as they seek to enhance their oversight of cyber risks. These five principles are:

1. Directors need to understand and approach cybersecurity as an enterprise-wide risk management issue, not just an IT issue.
2. Directors should understand the legal implications of cyber risks as they relate to their company’s specific circumstances.
3. Boards should have adequate access to cybersecurity expertise, and discussions about cyber-risk management should be given regular and adequate time on the board meeting agenda.
4. Directors should set the expectation that management will establish an enterprise-wide risk management framework with adequate staffing and budget.
5. Board-management discussion of cyber risk should include identification of which risks to avoid, accept, mitigate, or transfer through insurance, as well as specific plans associated with each approach.

Cybersecurity doesn’t leave one person unaffected, it’s a given that the board be involved with the cybersecurity strategy.

How can we help?

Axiom Cyber Solutions is offering a Managed Firewall, Cyber-Security Protection for Small Business starting as low as $199 per month.

We realize that most small businesses do not have a dedicated IT team and business owners may be handling their cyber security matters on their own. Let us take over and provide you with peace of mind. Axiom will provide your business a firewall and manage it so you don’t have to worry about securing your business. We will assess the security risks for your business and will help implement the right cyber security service for your business. And don’t worry, there are no upfront costs for the device and you can cancel at any time. #FightBackWithAxiom

Think You’re Immune to Cyber Crime Because You’re Small? Think Again!

Think You’re Immune to Cyber Crime Because You’re Small? Think Again!

Do you believe your healthcare practice isn’t appealing to a cyber criminal because of your small size, lack of revenue, or maybe because you’re just a drop in the vast bucket of healthcare practices?

You are dead wrong. You are actually more appealing to cyber criminals because they know as a smaller practice, you are probably less secure.

A poll by KPMG showed that over 200 healthcare providers were polled and found that four out of five providers had been hacked. 44% of healthcare organizations have been attacked 1-50 times while 38% have been attacked between 50-350 times in the last year. 13% were attacked more than 350 times.

These cyber criminals are going after smaller healthcare practices with full force and the consequences are dire. If a cyber criminal is successful in attacking your network, you will have violated the Health Insurance Portability and Accountability Act (HIPPA), lose all trust from your patients, or even worse, you could lose a life and your entire practice. You are not immune to these consequences if your healthcare practice is small.

KONICA MINOLTA DIGITAL CAMERA

Out of all the industries that exist, the healthcare industry is probably one of the most complicated to get a handle on their cyber-security. Many healthcare practices have been holding onto old practices, and with the ever-evolving landscape in cyber-security, if you’re not staying up-to-date, you are opening yourself to these attacks. For many, the idea of tackling this is too much. Instead of being so overwhelmed by all the ways a hacker could breach your network, take that time to reach out to the professionals who will help manage your cyber-security.

According to the American Medical News, a five physician practice named Phoenix Cardiac Surgery was fined and penalized after it was found that they had a host of problems amongst their cyber security and were negligent in fixing these problems.

The practice ‘failed to implement adequate policies and procedures to protect patient information; failed to document that it trained employees on HIPAA Privacy and Security Rules; failed to identify a security official within the practice and conduct a risk analysis; and failed to obtain any business associate agreements for its Internet-based email and scheduling services.’

In the end, Phoenix Cardiac Surgery had to pay over $100,000. Leon Rodriguez, director of the Health and Human Services of The Office for Civil Rights stated,

We hope that health care providers pay careful attention to this resolution agreement and understand that the HIPAA Privacy and Security Rules have been in place for many years, and OCR expects full compliance no matter the size of a covered entity.

Once a healthcare facility has violated HIPPA privacy laws, HIPPA will continue to audit the practice. That means that they have eagle eyes and are looking for other violations. It does not help anyone to ignore your cyber-security issues.

How can Axiom Cyber Solutions help your healthcare practice?
Axiom Cyber Solutions is offering Managed Cyber-Security Protection for Small Business starting as low as $199 per month. We realize that most small businesses do not have a dedicated IT team and business owners may be handling their cyber security matters on their own.

Let us take over and provide you with peace of mind. Axiom will provide your business a firewall and manage it so you don’t have to worry about securing your business. We will assess the security risks for your business and will help implement the right cyber security service for your business.

Axiom’s solutions come in different sizes and all our solutions are designed to deal with the attack vectors of today while being adaptive and flexible enough to continue to secure your network for years to come. For more information, check out our website at axiomcyber.com or give us a call us at (800) 519-5070. #FightBackWithAxiom

The Benefits of Managed Cyber-Security

The Benefits of Managed Cyber-Security

You’d have to have had your head stuck in the sand for the past year to not notice the amount of cyber-security breaches that are occurring. The cyber-security industry is growing and attacks are at an all-time high.

Quick Statistics:
-Currently, 60% of all targeted attacks struck small and medium sized organizations (Symantec).
-For most of these businesses, it took 170 days to detect a malicious or criminal attack (Ponemon).
-60% of businesses close within six months of experiencing a cyber breach (National Cyber Security Alliance).
So why do so many businesses continue to ignore their cyber-security?

For most, it comes down to their budget. Many employees in small businesses wear several ‘hats’ and are involved with numerous departments at their job. If most small businesses can’t hire an IT staff, it’s safe to say that a cyber-security professional is definitely out of the question. For many of these businesses, they haven’t even thought about an incident response plan for these attacks. These businesses don’t know what they’ll do, who they’ll contact, or how they’ll tell their customers when it happens to them.
Axiom Cyber Solutions wants to help keep you and your business secure. For $199 a month, Axiom will manage your business’ cyber-security. We believe the benefits to managed cyber-security is well worth it, in order to keep your business and clients safe and secure.

Here are 4 major benefits to managed cyber-security.

1. Protecting your business means protecting your data: All businesses should have anti-virus software but in the world of ever evolving cyber threats, it simply is not enough to only have anti-virus software. Each Axiom managed cyber-security package comes with: An Axiom Sentry Firewall managed by Cyber-Security Experts, Automatic Firmware & Security Updates, Threat Detection, Threat Prevention, Real-time Alerting & Monitoring, Denial of Service Protection, Advanced Ransomware Protection, Monthly Reporting and 24/7 Support

2. By spending $199 a month, you have the peace of mind that your network is being monitored with state of the art equipment. With our real time alerting, you will not have to wait 170 days to discover your network has been maliciously attacked. Leave it to our experts to help keep you secure.

3. If your business is protected, your organization’s reputation will not be hurt. One negative story about your business in the news will scare potential clients and your current clients. No one wants to do business with a company who doesn’t care about their clients and by having managed cyber-security, you are protecting your client’s most valuable data.

4. Do you want to have to report to the FTC daily? Save yourself from being hit with fines and audits, otherwise the FTC can fine a company that has not sufficiently protected their data against a breach. The FTC will require a company to undergo 20 years of security audits if they are found negligent. Having firewalls and intrusion detection mechanisms in place to prohibit cyber criminals from gaining access to your network is key to avoiding the potential fallout you’ll have to deal with.

How can we help your small business?
Axiom Cyber Solutions is offering Cyber-Security Protection for Small Business starting as low as $199 per month. We realize that most small businesses do not have a dedicated IT team and business owners may be handling their cyber security matters on their own. Let us take over and provide you with peace of mind. Axiom will provide your business a firewall and manage it so you don’t have to worry about securing your business. We will assess the security risks for your business and will help implement the right cyber security service for your business.
Axiom’s solutions come in different sizes and all our solutions are designed to deal with the attack vectors of today while being adaptive and flexible enough to continue to secure your network for years to come. For more information, check out our website at axiomcyber.com or give us a call us at (800) 519-5070. #FightBackWithAxiom

Holiday Cyber-Security Tips

With Cyber Monday just around the corner, it is important for consumers to be mindful of their online activity and avoid falling into the clever traps of cyber-criminals. For the most part, online shopping is safe if you stick to the well-known sites like Amazon, eBay, and other reputable online retailers. It’s when you start looking for those hard-to-find items from little known sellers that you need to start taking extra precautions and be vigilant.

 

There are several things you can do to make your online holiday shopping more secure and these are some of the most important:

1.) Keep your devices and computers updated

The first step to making sure that you are secure is to make sure that both your mobile (Phones, Tablets, etc) and computer are up-to-date with the latest patches to the operating systems and security software.

2.) Be cautious of too-good-to-be-true deals and emails about problems with orders

The problem with things that are “too good to be true” is that they usually are. This is particularly true during the holiday season while cyber-criminals are targeting shoppers with enticing deals. Be smart if you receive an email with a deal that’s unbelievably good or an email about a problem with your order that asks you to click a link. Go directly to the online retailer’s website in the browser instead of clicking on the link.

3.) Browse secure

Look for https and the lock next to the URL to make sure the transaction is secure and the online retailer is protecting your data during transmission.

Also, avoid purchasing from online retailers that you don’t know. There are many small reputable online retailers but there are also a lot of cyber-criminals setting up legitimate looking websites trying to steal information. If you want to purchase something from an unfamiliar retailer, take a few extra minutes to research them for reviews and see if they have an eBay or Amazon storefront as the policies of those sites will cover your purchases.

4.) Use safe payment options when possible

Never send cash or use a money-wiring service. Many credit card companies offer a temporary card option that will allow you to specify a limit for the transaction as well as provide you a temporary card number and expiration date for the transaction. Avoid using a debit card as much as possible.

5.) Protect your personal information

When making a transaction, give only the information that is required for the interaction. Fill out only the required fields while checking out and make sure to review the merchant’s privacy policy.

Don’t share personal information or banking information over unsecured (no password required) Wi-Fi networks.

Why the FTC Ruling on Cyber Security Affects Every Business Owner

Why the FTC Ruling on Cyber Security Affects Every Business Owner

In late August, the United States Court of Appeals for the Third Circuit unanimously affirmed the Federal Trade Commission’s (FTC) power to regulate cybersecurity under the unfairness prong of the FTC Act (15 U.S.C. §45).FTC v. Wyndham, Case, No. 14-3514. The ruling states businesses must have cybersecurity protection for their customers or be subject to fines. This ruling is especially important for those businesses who keep customer data such as financials.

Philadelphia judges ruled 3-0, giving the FTC the authority to sue Wyndham Worldwide, for cyber breaches in 2008 and 2009. In this case, over 619,000 customers had their personal financial information endangered. It has been reported that more than $10 million of fraudulent charges came after.

 

FTC, 2012. Photo by Diego M. Radzinschi/THE NATIONAL LAW JOURNAL.
FTC, 2012. Photo by Diego M. Radzinschi/THE NATIONAL LAW JOURNAL.

The FTC argued that Wyndham Worldwide was guilty of numerous unfair practices. Not only was Wyndham not storing their payment card information in a safe manner, they were also using easily guessed passwords in their property management systems. The FTC stated that the business lacked cyber security policies, including prevention and incident response plans.

Companies really need to think about the following 5 things when it comes to their cyber security, lest they be subject to fines and headaches:

  1. Businesses should analyze their data and how they collect it, use, and store it. This is especially important for businesses who withhold financial information.
  2. Is the business taking reasonable steps to secure their data? Are they limiting administrative access, assigning secure passwords, limiting access to the network, and regulating access to data?
  3. Companies need to compartmentalize the network and oversee who’s trying to gain access. Firewalls and intrusion detection mechanisms need to be in place to prohibit cyber criminals from gaining access to your network.
  4. Do my service providers offer me cyber security measures? Companies need to do their research on what is offered by their service provider when it comes to information security risks.
  5. What procedures do I have right now that are keeping our security up-to-date? Frequent updates and patches to software should be priority, ignoring these things or going into denial about cyber breaches does not do anyone any good.

The bottom line is, any company that has experienced a cyber security data breach is required to take proactive measures to avoid future breaches. If a company does not take some sort of precautionary steps, they will be subject to fines by the FTC.

And it doesn’t stop at fines. A business can lose their reputation, the trust their customers and clients have given them, Even after all of this, it is still not done. The doors have been opened for class action lawsuits. The years of time and money that have to be spent to deal with the fallout of a cyber security data breach is a huge inconvenience and there’s no guarantee that a business will even be able to continue to stay open. Axiom Cyber Solutions can help businesses of all sizes stay safe from hackers.

Data breaches will continue to rise and will evolve with new social and technological attack vectors. It’s important for any organization or individual with sensitive data to exercise caution and deploy best practices in securing your network. Axiom’s solutions come in different sizes and all of our solutions are designed to deal with the attack vectors of today while being adaptive and flexible enough to continue to secure your network for years to come.

For more information, check out our website at axiomcyber.com or give us a call us at (800) 519-5070. #FightBackWithAxiom

Hackers are Targeting Small Business

Hackers are Targeting Small Business

“60% of businesses close within six months of a cyber attack.”  (The National Cyber Security Alliance)

What side of that statistic do you think your business would fall on?

Do you believe you’re immune from hackers because you’re nowhere near as well-known as Anthem or eBay? You are dead wrong. Smaller businesses do not have the same cyber security resources as larger businesses and hackers are banking on the fact that you are ignoring your cyber security. As a small business, you are a more attractive target because you are more likely to be less secure. Thanks to automation, cyber criminals are mass producing their attacks with numbers in the thousands with little to no investment.

It’s all over the news and almost impossible to escape from. Every day a new story pops up about a data breach or cyber crime. Corporations worldwide are beefing up their cyber security. It is not only the retail and financial organizations, the Pentagon is also following in their footsteps to protect their data.

Cybercrime has cost the US economy $100bn a year, worldwide that total goes up to $300bn annually, according to the Center for Strategic and International Studies.

In fact, McAfee found that almost 90% of small and medium sized business in the US do not use any data protection for their company and customer information. Less than half secured company emails to prevent phishing scams. Where does that leave the hackers? It leaves them to focus on you.

Despite the growing number of cyber crimes, many small business owners believe that hackers will not waste their time on small business. However, hackers are stealing enormous amounts of cash from small businesses and because these are small businesses, they do not get anywhere near the amount of news coverage like a Target or Sony would get. Most of these cyber crimes occur before the business owner can even realize their security has been compromised. The loss of customer data will change how your customers view you and these security threats are not going away anytime soon.

For small business owners, being proactive is an absolute must. Just like in football, your best defense is good offense. Otherwise, the fallout from a data breach can be astounding. You do not want to wait until your data is being held ransom before you think about cyber security. Otherwise, you will face quite the fallout from a breach.

Not only will you have to pay fines and penalties, you will have to conduct a forensic investigation and a PCI assessment. A small business will lose their reputation and lose the faith of their customers. Punishment will come in many shapes and sizes. You may not be able to continue to take credit card payments once a cyber breach has occurred, many merchants will suspend your account once this has occurred. Your payment processor may impose stricter PCI requirements and compliance which of course means it will cost you more money to continue to do business. Anti-virus and anti-malware can only protect a single computer from an attack. It does not protect your network hardware from attempted breaches. You need a good firewall and transport security in conjunction with updated virus and malware protection.

How can Axiom Cyber Solutions help secure a small business?

Axiom Cyber Solutions is offering Cyber-Security Protection for Small Business starting as low as $199 per month. We realize that most small businesses do not have a dedicated IT team and business owners may be handling their cyber security matters on their own. Let us take over and provide you with peace of mind. Axiom will provide your business a firewall and manage it so you don’t have to worry about securing your business. We will assess the security risks for your business and will help implement the right cyber security service for your business.

Axiom’s solutions come in different sizes and all our solutions are designed to deal with the attack vectors of today while being adaptive and flexible enough to continue to secure your network for years to come. For more information, give us a call us at (800) 519-5070. #FightBackWithAxiom

Top 5 Cyber Crimes All CPA’s Should Be Aware Of

Top 5 Cyber Crimes All CPA’s Should Be Aware Of

The U.S. Intelligence Service puts cyber crime as the number one threat that we face, moving past terrorism. In 2014, 39% of all cyber attacks affected financial institutions compared to 17% found in other industries, according to professional consultancy group, PwC.

These financial institutions include banks, mortgage lenders, insurance companies, and brokerage firms. A recent report by the AICPA (American Institute of Certified Public Accountants), the world’s largest member association with over 400,000 members representing the accounting profession, has identified the top five cyber crimes that CPA’s should be aware of.

Tax Refund Fraud: All a cybercriminal needs is a name and Social Security number in order to go through with his crime. This information can be accessed by either purchasing on the black market, e-mail phishing, or social engineering. The cybercriminal can then fill out the tax return and generate a large refund. The ACIPA encourages CPAs engaged in tax work to assess their privacy and security policies, and establish internal controls to keep client data secure.

Corporate Account Takeover: This is the most stealthy and costly type of attack. An electronic funds transfer such as ACH (Automated Clearing House) fraud or wire transfer fraud involved three key steps.

Log-in credentials are acquired illicitly. It may come as an email attachment or file transfer. When the user allows this malicious program to be downloaded and executed, the cybercriminal moves onto the next step.

Now that the cybercriminal has access to the victim’s computer, they can avoid the bank’s security features, allowing the criminal to move onto their third step.

The cybercriminal can transfer the funds from their victim’s account to an account of their own. A ‘money mule’ may be used to transfer the funds to a protected account, likely overseas and away from U.S. law and jurisdiction.

CPAs can help educate their clients about this type of cybercrime. CPAs in management accounting who hold a key position of responsibility for this kind of fraud must learn the vulnerabilities that come with online banking.

Identity Theft: This is a gateway to other cybercrimes and frauds. Once a criminal has a person’s information, they can financially benefit by the following ways:

  • Opening a line of credit
  • Purchase goods or services
  • Rent or buy a home/apartment
  • Receive medical care
  • Obtain employment

Identity theft can be tricky because cybercriminals will sit on that information for some time before using it. According to the AICPA, 50% of identity theft goes undetected for at least one month and 10 percent remains undetected for two or more years. Due diligence must be practiced or lawsuits may occur. The AICPA found that ‘forty-six states, the District of Columbia, Guam, Puerto Rico and the Virgin Islands have laws regarding security breaches of personally identifiable information’.

Theft of Sensitive Data: Businesses may have sensitive data such as unencrypted credit card information, personal information, trade secrets, codes, customer, and employee information that lure cybercriminals. The theft of sensitive data can be costly for businesses, in both financial costs and public-image. Legal fees and increasing security measures are sure to follow.

Theft of Intellectual Property: Intellectual property, includes commercial, copyrighted materials like music, movies and books. These are at risk of being stolen. According to the FBI, preventing intellectual property theft is a priority for its criminal investigative program and they are focusing on theft of trade secrets and product infringements, such as counterfeit parts and other products that threaten safety. AICPA encourages CPA’s to work with their clients on being up to date on privacy and security reviews.

The AICPA encourages financial institutions to focus on earlier detection of cyber crimes by implementing monitoring systems and technologies for cyber security.

Axiom’s solutions come in different sizes and all Axiom solutions are designed to deal with the attack vectors of today while being adaptive and flexible enough to continue to secure your network for years to come. For more information, give us a call us at (800) 519-5070