19 September 2014

Please Engage Brain

Keith Appleyard - available for hire

60 | posts 257,807 | views 97 | comments

Whatever...

A place to share stuff that isn't at all fintec related but is amusing, absurd or scary.
A post relating to this item from Finextra:

Phisher dupes Condé Nast out of $8m

05 April 2011  |  11078 views  |  0
Condé Nast has been hooked by a spear phisher, who with just one e-mail managed to get the publishing giant to wire him $8 million.

How to get hold of 8 million dollars

05 April 2011  |  5951 views  |  0

I recall some 25 years ago being told via e-mail to change the Bank Account that my employers Direct Debits would be credited to from a High Street branch of Lloyds to one in a small local village with a population of less than 1,000.

When I kicked up a stink requesting higher authority (we were talking about £700,000 a week even in those days) at first I got into trouble for quibbling, then later it dawned on the powers that be what my intransigence had prevented.

It seems crazy to me that anyone would accept a simple e-mail request as authorisation - I'd expect to see a formal memo on header notepaper, and with at least 2 signatures on it, and then I'd make a phone call to confirm. 

TagsSecurityRisk & regulation

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Keith Appleyard

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IT Consultant

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available for hire

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Bromley

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