Jason Liberty
Executive Vice President/CFO
Royal Caribbean Cruises
“It is happening. It’s probably happening to everybody in my opinion. I think we get over a million different attacks a day. Our cyber-security budget used to be probably half a million dollars a year, and it’s probably $75 million to $100 million dollars a year today. Whether it’s our plans for future ships, whether it’s our employee data, our customer data. It’s a relentless attack. And a lot of times you find those attacks are coming from typically three sources. It’s Russia. It’s Eastern Europe. And it’s China. And certainly you read recently some of the things that have come out of the SEC. There are companies being duped on a consistent basis where invoices or routing numbers are being modified and sent and look legitimate and they are being paid to rogue accounts. So if you’re running a business — obviously there’s a personal side of it — I would say be aware and be prepared. It’s happening. It’s getting much more sophisticated.”
Glossary
Overpayments
The classic variety is the Nigerian con in which victims are offered a share of money for helping facilitate a money transfer but are told they have to put up some of their own money.
Non-payment/non-delivery
You sent goods and didn’t get paid or sent money but didn’t get the ordered goods.
Personal data breach
An individual’s personal data is leaked, or a security breach results in an individual’s data being accessible to untrustworthy viewers.
Phishing
Emails, texts and calls from seemingly legitimate companies and organizations looking for personal or financial data or login credentials.
Business email compromise/email account compromise
BEC scammers target businesses that work with foreign companies or that regularly make wire transfers. EAC is the same thing for individuals targeted. In both, scammers use social engineering or computer invasion to sucker people into making fund transfers to unauthorized recipients.
Confidence/romance fraud
A fraudster tricks the victim into trusting him in order to swindle the victim out of money or personal data or to get them to launder money. Variations include the grandparent’s scam, in which the perpetrator purports to represent a loved one of the victim, says the loved one is in trouble and convinces the victim to send money.
Corporate data breach
The leak of business data to untrustworthy eyes.
Read more in our February issue.
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