Cyber Risk Should Be A Growing Concern to the Municipal Bond Market
Following an increase in ransomware cyber attacks, most notably May 2017’s WannaCry attack, U.S. public sector entities are starting to see the effects of these attacks on the almost $4 trillion municipal debt market. As a result, issuers are now starting to consider the cybersecurity posture of borrowers at the town, city, and local levels when they apply for bonds.
Takeaways from the 2017 Gartner Security & Risk Management Summit
This year marked another great Gartner Security & Risk Management Summit with over 3,000 attendees, bringing together CEOs, CIOs, CISOs, IT Directors, Risk Managers, and other risk and security professionals to National Harbor, MD from June 12-15. An underlying theme emerged from the numerous sessions I attended and the various conversations I had: all roads lead back to business value. Whether it’s a new vendor that a company is looking to onboard, or a cloud technology the organization is implementing, everything should tie back to a business decision.
New Research: W-2 Phishing Scams Increase During Tax Season
Stress and worry are emotions that are often linked with the period between the beginning of a new year and mid-April, the federal tax filing deadline. Modern technology has brought with it techniques and applications that reduce this burden by making it easier for consumers to prepare a tax return. Unfortunately the age of e-filing has come with increased risk of tax fraud due to cybercrime. According to IRS statistics, investigations, prosecutions, and convictions for tax crimes, including those involving identity theft, have been on the decline over the last three years.