Businesses are facing this system hack with ever-increasing frequency: An accounts payable employee receives new or updated payment instructions from a vendor via email. The email appears to be from a familiar counterpart at the vendor; it contains accurate details specific to a current transaction; the new bank is well known; and the new instructions have the vendor’s name, or a version of it, as the beneficiary.
About Data Points: Privacy & Data Security Blog
The technology and regulatory landscape is rapidly changing, thus impacting the manner in which companies across all industries operate, specifically in the ways they collect, use and secure confidential data. Moore & Van Allen’s Privacy & Data Security Group recognizes the challenges clients face in the effort to stay abreast of such volatility. “Data Points” seeks to educate by providing transparent and cutting-edge insight on the most critical issues and dynamics. Our goal is to inform business decision-makers who are navigating these waters about the information they must protect, and what to do if/when security is breached. Read About Our Practice and Meet the MVA Privacy & Data Security Team.