Protecting Profits from Cyber Scams with Michelle Schaap

Smart Tech Spending

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In this episode of Smart Tech Spending, I’m joined by attorney Michelle Schaap of CSG Law who shares examples of how businesses can ward off financial and reputational damage resulting from popular email scams and discusses the legal obligations businesses and contractors have regarding the protection of information and breach notification.
What you’ll learn in this episode:
- The real-life financial impact on two businesses after an employee fell for a common email scam
- How company policies and staff training can help prevent miswiring of funds and financial loss for small and medium businesses
- The importance of a Funds Transfer Policy
- Who is responsible if a contractor or vendor in a supply chain is part of a breach
- Breach notification requirements for businesses in New Jersey
Michelle Schaap’s Bio
Michelle Schaap is the founder of Chiesa Shahinian & Giantomasi PC's Privacy & Data Security Group. She regularly advises on cybersecurity preparedness, counsels when data security incidents arise and trains companies on best practices for security procedures addressing both their business operations and their customers’ concerns. Michelle is a subject matter resource on cybersecurity and privacy for the New Jersey Small Business Development Corporation. She is a sought-after speaker and has authored numerous articles to educate business owners on privacy and cybersecurity risks and obligations.
Resources
Connect with Nicole Lefsky: https://www.linkedin.com/in/nicolelefsky
Jersey IT Group's Website: http://www.jerseyitgroup.com
Connect with Michelle Schaap: [email protected]
Michelle Schaap’s Phone: [phone]
Michelle Schaap’s LinkedIn: https://www.linkedin.com/in/michelleschaap
CSG Law’s Website: https://www.csglaw.com/
Mentioned in the Episode
NJCCIC (New Jersey Cybersecurity & Communications Integration Cell https://www.cyber.nj.gov/
NIST (National Institute for Standards and Technology) Small Business Cybersecurity Corner https://www.nist.gov/itl/smallbusinesscyber
SANS https://www.sans.org/
CIS (Center for Internet Security) Controls https://www.cisecurity.org/controls

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챕터

1. Protecting Profits from Cyber Scams with Michelle Schaap (00:00:00)

2. Real Life Wire Fraud Scam (00:02:46)

3. RFP Disclosure to Government (00:07:23)

4. Contracts and Changes Regarding Payment (00:09:02)

5. Training of Personnel (00:09:51)

6. Real Financial Loss to Businesses (00:10:07)

7. Importance of a Funds Transfer Policy (00:11:08)

8. Verifying Invoices (00:12:28)

9. Breach Notification Obligations (00:13:20)

10. Common Law Duty & Why it Matters to NJ Businesses (00:19:12)

11. Examples of Reasonable Measures (00:22:32)

12. Where to Begin for NJ Businesses (00:25:14)

13. Resources for Small and Medium Businesses (00:26:54)