S.C. companies lag on security as cybercrime losses soar | #cybercrime | #infosec


Two-thirds of South Carolina’s largest business enterprises leave their computer systems vulnerable to common email scams — a hole that’s helping to enable a cybercrime spree that the FBI says cost state residents $264 million last year, according to a new report.

Released June 8 by the Colorado-based cybersecurity firm Red Sift, the report found that only 35% of the 100 large S.C. ventures that it examined have fully implemented a security measure known as DMARC — an internet safeguard that prevents fraudulent emails bearing their company’s address from being delivered.

Put simply, DMARC helps ensure that any email you receive from, say, charlestoncitypaper.com, actually came from charlestoncitypaper.com — and not from a cybercriminal who faked the address.

In Red Sift’s data, Georgia and Tennessee were tied for first place in the Southeast for DMARC compliance at 45%, with Mississippi and S.C. bringing up the rear.

A Red Sift spokesperson declined to share the names of S.C. entities that haven’t fully adopted the DMARC standard, but offered a partial list including Boeing South Carolina, the S.C. Ports Authority and several major banks and universities.

“These days, most of the ways we work, bank and shop rely on trustworthy email,” Red Sift Vice President Brian Westnedge told the Charleston City Paper. “And when those trustworthy email communications break down, there are real consequences in terms of email phishing, fraud, ransomware and wire transfer attacks.”

What’s worse, Westnedge noted, those types of scams have only grown more sophisticated in the age of artificial intelligence.

“These aren’t the obvious Nigerian scams of yesteryear,” he said. “And because they’re now often crafted with AI, even a non-native speaker can make something that looks very convincing.”





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National Cyber Security

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