Cybercrime in Foreclosure Law: Wolves in Sheep’s Clothing

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first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: crime cybercrime Foreclosure Law Technology Ransomware: Citing the Verizon Data Breach Incident Report, Travelers acknowledges that Ransomware is the fifth most common form of malware. Ransomware occurs when an individual penetrates a firm’s network and essentially holds their private information “ransom” until some form of monetary compensation is received. Upon receipt of payment, the individual hopefully then releases the information back to the firm. The most recent and crippling example of this came in 2017 with a Ransomware attack on DLA Piper. The attack resulted in the complete shutdown of the firm’s entire U.S. IT operations for several days. Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago crime cybercrime Foreclosure Law Technology 2019-08-26 Seth Welborn General Hacking: While it can be argued that all versions of cybercrimes involve some sort of hacking, this is perhaps the most basic one. Hacking occurs when a person gains access to information by way of weak or default passwords. Moreover, hackers can install malware to capture keystrokes, thus increasing the potential of a password being compromised. Subscribe Spear Phishing: Spear Phishing begins when an unsuspecting person receives an email from what they believe to be a legitimate source. Usually, this email will contain a hyperlink, and once the recipient clicks on that link, a hacker immediately gains access to professional and personal information. The hacker can now view anything that the employee has access to on the firm’s servers. In the default space, such an action could potentially expose thousands of records of confidential borrower information, including social security numbers. Cybercrime in Foreclosure Law: Wolves in Sheep’s Clothing Social Engineering: Perhaps one of the more common crimes in the legal sector involves a hacker taking the identity of someone within a firm in order to force an action. For example, a hacker will infiltrate the email box of Law Firm A’s Managing Partner. The hacker then composes and sends an email to Law Firm A’s accounting department requesting a wire transfer of $100,000. Believing that the request is legitimate, the accounting manager sends the requested funds. Although the transmitted funds are often unrecoverable, most cyber-insurance policies have a specific sub-limit for social engineering Numbers Don’t LieIn her 2018 Gallup article “Cybercrimes Remain Most Worrisome to Americans,” Megan Brenan found that Americans are more concerned about cybercrimes than violent crimes. Perhaps just as alarming, 71% of those polled indicated that they frequently fear a computer hacker will access their personal financial information. Brenan further noted, “The frequency with which Americans worry about becoming victim to a variety of different crimes is similar to last year, as they remain much more likely to fear being victimized by cybercrimes than traditional crimes.” The impending fear of victimization has continued to grow over the years, in part due to Americans’ increased reliance on digital information. Millions of Americans have been affected by a data breach in one form or another, whether due to an isolated incident such as identity theft or by way of a larger data breach. Continued dependency on digital platforms has increased potential exposure, whether in the form of online banking or through social media.According to the American Bar Association (ABA), 25% of all law firms in the United States have experienced at least one data breach. While firms certainly maintain a looming fear of an imminent breach, a core driver for such fears pertains to the hard and soft costs relating to an actual cyber loss. The ABA estimates that, of the firms infiltrated by a cyber threat, “notification is typically the largest single direct cost, with an estimated cost of $200,000. This includes requisite activities such as creating contact databases, retaining outside experts, postal expenditures, and determining regulatory requirements.” In terms of a direct loss, the same article references a 2016 report by insurer QBE. A study by the insurer confirms that more than $120 million was stolen across the legal profession within an 18-month period as the result of data breaches. If that number was not staggering in and of itself, there are also the resulting soft costs of cyber loss, including employee and network downtime, loss of billable hours, unrecoverable date, and reputational damage. In addition, law firms could be susceptible to lawsuits from their clients.Mitigating the ThreatThe ABA has produced a treasure trove of valuable information to help firms not only recognize cyber risks, but also to assist in providing the appropriate measures law firms need to take to help mitigate a cyber loss. According to the ABA, the first line of defense includes controlling access by way of authentication measures. These include basic processes such as the routine updating of passwords, as well as more complex systems such as fingerprint readers and facial recognition. The universal consensus acknowledges that, no matter if the device is a smartphone or laptop, all devices used by attorneys should incorporate some form of basic authentication. In addition to strong passwords, the ABA further recommends that firms also maintain a level of encryption. In basic terms, encryption allows data to be protected until it is decrypted by using a specified password or other measure. This form of access control protects data in storage and transmitted data. Data can include information housed on devices or servers and information exchanged through email or another messaging form. There is an additional concern with the popularity of remote access as web-based applications, as well as virtual private networks (VPNs). Thankfully, most platforms already utilize some level of basic encryption.Finally, there are other types of security measures the ABA recommends, including anti-spyware, firewalls, antivirus programs for devices, and intrusion detection. Firms that believe they could be especially prone to a cyberattack can hire third-party companies to perform a network penetration test, and then remediate any findings accordingly. While the ABA’s suggestions are valuable to all firms, foreclosure firms have an extra layer of responsibility both in terms of protecting their clients’ information but also in terms of shielding confidential borrower information. If there is a “fortunate” component to compliance requirements, it comes in the form of the technology audit. While client mandates pose a staggering cost to default firms, both in terms of physical security and cybersecurity, they do outline requirements that make default firms more protected than most. In fact, the ABA’s recommendations and most servicer requirements share many similarities. Both include multi-factor authentication measures, disaster-recovery and business continuity plans, as well as the need for encrypted remote access. All Is Not LostThe increased creativity employed by cybercriminals makes it difficult to thwart every potential threat. While recognizing the risk is the obvious key to prevention, knowing what to do in the event of a loss can help mitigate further damage. A data breach involves myriad complexities, making cybercrimes much more difficult to track than any traditional form of theft. Often, a hacker can spend an indefinite amount of time monitoring a firm’s network before he or she decides to cause damage. Once a cyberattack occurs, the first step is to identify the problem and understand the root of the issue. This next step may not be as apparent, but there is a crisis-management component firms will need to employ to prevent reputational discreditation.  Vivian Hood, the CEO of Jaffee Partners, outlined a step-by-step guide in her 2018 piece for The National Law Review, entitled “Law Firms and Cyber Attacks—What’s a Law Firm to Do?” In her article, Hood argued that perhaps the single most important response was for firms to alert relevant parties before a breach became public. Hood noted, “Now more than ever, transparency is necessary—even though it may seem like the least desirable approach to take.” Hood made the argument that sharing the news of a data breach before its leaked by someone else allows a firm to prevent further reputational damage. This decision is a small component of a firm’s overall crisis communications plan, which should be shared with clients, staff, attorneys, and even vendors. A standard plan should have an outlined process for what information is to be communicated (and by whom), as well as a timeline identifying the breach, including information pertaining to what the firm is doing to lessen the damage. Ensuring Your Tech FutureWhile controlling the narrative is important to maintaining reputational integrity, there is undoubtedly a monetary component to consider as well. Cyber-insurance is a relatively new coverage type that came into existence approximately 15 years ago as a standalone policy with individual limits and sub-limits. In its basic form, cyber-insurance protects firms in the event they have a data breach and a resulting loss. Types of covered losses could be direct, such as an intercepted wire transfer, or indirect, such as the loss of revenue during network downtime. Other coverage provisions include limits for computer and legal experts, betterment, data restoration, and public relations. For law firms of all sizes and practice demographics, cyber-insurance is a relatively inexpensive layer of protection considering the exorbitant expense associated with a cyber-incident. For the foreseeable future, cyberthreats will remain a global danger to all companies. While lawyers and IT specialists alike have improved the network security of their respective firms, the ongoing creativity of hackers makes it difficult to outstep this ever-changing peril. It is important that all employees remain cognizant of cyber-fraud and continuously monitor any potential danger. While cybercrime certainly won’t be eliminated, it can be appropriately managed so law firms can lessen their risk of a loss. Share Save Demand Propels Home Prices Upward 2 days ago  Print This Post Foreclosure law firms have played an important role in the implementation of technology and have, in many ways, led the charge. Whereas traditional firms transmit an aura of forced conformity, the default sector has been seemingly receptive to technological progress. From the development of proprietary case management systems to installing paperless file and barcoding classifications, many firms have been receptive to exploring new efficiencies. Unfortunately, technological advancements do not always yield positive results. In the not too distant past, the thought of a law firm being infiltrated remotely by a third party seemed far-fetched, if not completely absurd. In an era of illicit creativity though, cyber-related crimes have continued to rise in recent years and now pose an existential threat to all companies, including law firms.The Five Follies Cybercrimes unfortunately do not fit a standard mold. According to Travelers Insurance, there are five specific types of threats, and understanding each type can better prepare a firm for a potential loss. About Author: Harrison Troppcenter_img The Best Markets For Residential Property Investors 2 days ago Previous: The Highest and Lowest Foreclosure Rates Next: Increases in Home-Price Growth Lagging in June Rogue Employee: According to Travelers, inside threats account for 15% of all data breaches. This type of threat is especially concerning due to the level of access some employees have to confidential or sensitive information. Not only can rouge employees access information, but they can also install malware or other malicious programs if they are technologically competent. Servicers Navigate the Post-Pandemic World 2 days ago August 26, 2019 2,309 Views The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Foreclosure, News, Print Features, Technology Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Harrison Tropp graduated from Florida State University with a degree in Political Science. Following graduation, he began work as an advisor for a consulting group representing default law firms. While Harrison’s primary responsibilities pertained to business development, he gained first-hand experience in default services, law firm operations, as well as audit and compliance requirement. He began his tenure at Shea Barclay Group towards the end of 2016 with the primary role of helping default firms with their insurance needs, particularly related to compliance mandated insurance. Sign up for DS News Daily Home / Daily Dose / Cybercrime in Foreclosure Law: Wolves in Sheep’s Clothinglast_img read more


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first_imgCHESHIRE bakery Chatwins helped a pensioner who had been coming into the store for more than 80 years celebrate her 100th birthday.Chatwins of Nantwich offered Sarah Darlington a bouquet of flowers and a cake to mark the occasion. Mrs Darlington had been coming into the bakery once a week for the past 83 years for a meat and potato pie and a coffee.Her daughter Alice Baston said: “Chatwins is the best bakery. We’ve not found anywhere else that comes up to its standards. The staff are really friendly. My mum loves the pies and thinks they’re good value for money. They do nice cakes and custards too.”Chairman Edward Chatwin commented: “It’s a fabulous occasion to celebrate. She’s been coming to Chatwins for 83 years and we are very proud to have her as a customer.”last_img



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first_imgGhana sprinter Janet Amponsah says she is focused and not perturbed being the country’s sole representative at the IAAF Championships in Moscow, Russia.Amponsah was entered by the Ghana Athletics Association before July 15 after qualifying as a wild card to participate in this year’s games.The young athlete who will compete in the women 200 meters event claims this won’t be her first time representing the country as the only athlete and therefore up for the challenge.”This is not the first time I’m going to a competition as the only representative of the Ghana, I have experienced this so many times but I always try to do my best anytime I go so this thing about me being the only Ghanaian does not make me sad,” she told Joy sports in an exclusive interview.”I’m just going there to do my best for the country but I know it won’t be easy.”The 14th World Championships in Athletics is scheduled to be held in Moscow, Russia from 10–18 August 2013.last_img read more


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first_imgDES MOINES — State Auditor Rob Sand has released a survey showing two-thirds of health care providers consider Medicaid privatization an impediment to their ability to provide services.“A great number of providers felt that the process had become more complex,” Sand said this morning during a news conference via Zoom.The survey was conducted in late 2019. Nearly 83 percent of hospital administrators who responded expressed frustration with delays in getting paid by the private companies that manage care for Iowans enrolled in Medicaid.“Obviously, that in itself suggests that the process should be worked on to be simplified,” Sand said.State officials should create one system for billing, rather than letting each private company that manages care for Medicaid patients operate its own system, according to SandFind a link to survey results here.last_img read more


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first_imgTwo trips to the Lone Star State highlight the 2018 Humboldt State football schedule released on Thursday. The Green and Gold will play 10 games, including four at the Redwood Bowl.HSU faces a challenging schedule beginning with a road trip to Wichita Falls, Texas, to face Midwestern State on Sept. 1. The Mustangs reached the NCAA playoffs last season with a 10-1 record. The programs will meet for just the second time.Following a week off and a road game at Central Washington on Sept. 15, the …last_img


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first_img28 November 2013Deputy President Kgalema Motlanthe emphasised positive developments and untapped potential in South Africa’s mining industry during a working visit to Canada this week during which he engaged intensively with mining executives, investors, bankers and asset managers.During his three-day trip, which ended on Wednesday, Motlanthe also met with members of the Canada-Southern Africa Chamber of Business, visited the Toronto Stock Exchange and paid a courtesy call on Canadian Prime Minister Stephen Harper.Canada is a major investor in South Africa’s mining industry, and Motlanthe used his trip to encourage further investment, saying in an interview with Mining Weekly Online in Toronto that mining remained central to South Africa’s economy.“Motlanthe affirmed that the industry was still the country’s most significant currency earner and, despite more than a century of intensive exploitation, the industry was but turning over a fresh leaf and poised for significant growth, boosted by newly overhauled mining legislation dealing with inefficiencies, and by lifting domestic beneficiation levels,” Mining Weekly reported on Wednesday.Motlanthe told Mining Weekly that South Africa’s mining industry should not be measured solely by the performance of its gold sector, as there were huge proven unexploited deposits in other sectors, including iron ore, diamonds, manganese, platinum and chrome.On legislation, Motlanthe told miningweekly.com that the upcoming amendments to the Mineral and Petroleum Resources Development Act would streamline licence application processes, “shortening the turnaround time for juniors significantly”.At the same time, he said, a great deal of progress had been made in transforming South Africa’s mining labour landscape.“At the moment, we are involved with an all inclusive dialogue, a framework crafted and agreed to by all stakeholders, including organised labour, businesses, affiliated mining houses and government, through which we look at the whole range of archaic practices that serve as irritants today – methods that were previously used to serve the industry very well in terms of securing cheap labour,” he told Mining Weekly.He said there was now wide consensus on how such practices should be reformed.“We are encouraging mines to look into implementing a shorter six-month work cycle, to allow migrant miners to return home more frequently. That is still a work in progress, but we think it will remove many of the social deterrents and irritants of the mining industry.”Addressing members of the Canada-Southern Africa Chamber of Business on Tuesday, Motlanthe described South Africa as a country of contrasts.“On one hand we have sophisticated and advanced systems, such as those within the financial sector and mining sectors. At the same time, we have the part of South Africa that is underdeveloped, unskilled and poorly educated. These are accumulated disabilities that have confronted our country since 1994.”He said the government was directing resources at these social problems “which, once addressed, will help propel the country forward.“South Africa and Canada have a lot in common, and Canada has certain strengths that would be of great help for South African development, particularly in areas such as mining, engineering and education. We aim to strengthen and cement the bonds between our two countries.”Motlanthe was accompanied on his trip by Labour Minister Mildred Oliphant and Deputy Mineral Resources Minister Godfrey Oliphant.SAinfo reporterlast_img read more


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first_img You will still need to do what sales people have always done. Make contact. Create opportunity. Create value. And make the sale. Get the Free eBook! Learn how to sell without a sales manager. Download my free eBook! You need to make sales. You need help now. We’ve got you covered. This eBook will help you Seize Your Sales Destiny, with or without a manager. Download Now No one is waiting for your cold call. No one has ever said to themselves upon awakening, “Man, I hope some salesperson calls me out of the blue today.” The chances of the words being uttered at any time in the future are precisely 0.0%.Nor is there anyone demanding that you social sell them, either.Buyers are not hoping that you to send them an invitation on LinkedIn and follow it up by hammering them with an appointment request a half millisecond later. They don’t hope for a completely self-oriented email that creates no value for them. There isn’t anything here that makes this approach inherently better than a phone call.No buyer is waiting for you to tweet them, nor are they waiting for a direct message. No one is waiting to engage with you on Twitter. No one is begging for you to share links with them, or hoping that you be patient while they come to realize that all of your sharing on social media means that you are someone who can help them with their challenges or opportunities.If you’re going to be a thought leader, you are going to need compelling content. If you are going to use social tools to build your personal brand and create new opportunities, you are going to have to go deep, creating content that distinguishes you within your space. If you are going to curate or synthesize other people’s content, you are going to have to add something meaningful, some point of view that is valuable, something that makes your thought leadership stand out.No one is demanding that you social sell them, because no is demanding that you sell them at all.Because social selling doesn’t actually happen. Customers won’t discover you via your social efforts and sign up. Your social activity can create awareness of you and what you represent, but it doesn’t change what actually must occur for you to sell.last_img read more


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first_imgAbout the authorPaul VegasShare the loveHave your say Ex-Molde defender Toivo: What Man Utd players can expect from Dempseyby Paul Vegas10 months agoSend to a friendShare the loveFormer Molde defender Joona Toivo is happy for Mark Dempsey over his return to Manchester United.Ole Gunnar Solskjaer’s long-time assistant has followed the Norwegian to Old Trafford and was back helping out at Carrington for the first time this week alongside Mike Phelan, Michael Carrick and Kieran McKenna.”He was really enthusiastic in his coaching. As a person, he has this fire in him – everything is done to the full,” Finland international Toivo told the Manchester Evening News.”I think he is great at creating fighting spirit in the team and encouraging players to be the best they can be. He has a lot of knowledge about football and understands the game really well.”There was a lot of concentration on first touches and observing the play with Mark in training: where and how you took the first touch. He played as a midfielder when he was a player and he often said ‘play what you see’. By that, he also meant to keep it simple and to not try difficult stuff.”He was really like a friend. He’s a guy who loves to tell stories and jokes and loves to make people laugh and play pranks.” last_img read more


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first_imgMan Utd would consider buyout clause for Pogba’s new contractby Paul Vegasa month agoSend to a friendShare the loveManchester United would consider including a buyout clause in Paul Pogba’s new contract.The Times says talks between the two parties commenced on Tuesday morning.However, it’s suggested any agreement would be based on an acceptance Pogba will eventually leave.Tied to United until 2021, the aim for the club would be to maintain his transfer value.And as a gesture of goodwill, United would be willing to include a buyout clause in the new deal so preventing them from blocking a departure. TagsTransfersAbout the authorPaul VegasShare the loveHave your saylast_img