Understanding Cyber Risks: Protecting Your Organization from Email Breaches and Invoice Manipulation

Thank you to MarshMclennan Agency and Kacey Wheeler for your informative presentation at the PSA 100th Annual Convention!

Key Strategies for Mitigating Modern Cyber Threats and Responding Effectively

In today's digital landscape, organizations face a growing array of cyber threats that can have devastating financial and reputational consequences. Two of the most prominent risks are unauthorized email access and the manipulation of invoices, both of which can compromise sensitive HR and financial systems.

Email breaches: gateway to financial and HR fraud

Unauthorized access to email accounts is more than just an inconvenience—it can serve as an entry point for attackers to exploit HR and financial systems. Such breaches often result in payments being redirected to criminals or payroll fraud, causing significant monetary losses. To effectively guard against these threats, it is essential to limit access to critical systems and enforce robust security controls. This approach not only reduces the risk of breaches but also supports a swift and effective response should an incident occur.

Invoice manipulation and privacy tracking: navigating legal ambiguities

Another growing concern is the manipulation of invoices, which can lead to fraudulent financial activity and privacy-related claims. Attackers may intercept or alter legitimate invoices to redirect payments or harvest sensitive information for further misuse. The challenge is compounded by legal ambiguities surrounding responsibility, as privacy laws vary across jurisdictions. As a result, organizations must prioritize clear disclosure, strong internal controls, and compliance to mitigate cyber liability. Staying informed about current regulations and maintaining transparency with stakeholders is crucial to reducing exposure and supporting legal protection.

Incident response plan: steps to take after a cyber attack

Preparation is key when responding to a cyber incident. An effective response plan should include:

• Evidence of cyber incident: document all signs of a breach or suspicious activity, including logs, alerts, and user reports.

• Legal involvement: Engage legal counsel early to navigate regulatory obligations, privilege issues, and potential liabilities.

• Forensic engagement: Work with forensic experts to investigate the incident, identify vulnerabilities, and preserve evidence for potential legal or insurance needs.

• PR response: develop a public relations strategy to communicate with stakeholders, customers, and partners in a timely and accurate way, helping maintain trust.

  
  

By recognizing these risks and implementing comprehensive security measures, organizations can better protect themselves from cyber threats and respond effectively when incidents occur. Regular reviews, employee training, tabletop exercises, and a clear incident response plan are essential components of a resilient cybersecurity strategy.