The FENG Raleigh, NC Chapter

Next Meeting

When:

07/12/2017 – 6:00 PM to 8:00 PM (Reserve a spot at this event)

Where:

Date: Wednesday, July 12, 2017

Time: 6:00 pm to 8:00 pm

Place: Principal Financial Group
4141 Park Lake Avenue, 5th Floor
Raleigh, NC 27612

Host: Robert Half Management Resources, Don Plato, AVP /Div. Dir.

Agenda:

Topic: Social Engineering Fraud

You are Chief Financial Officer of your company; and you are on a well-deserved vacation. On a cruise, neutral waters, completely off the grid.

You can take vacations like this knowing that you’ve got one of the hardest working Controllers around “minding the store”. One Friday evening, your Controller is the only person remaining in the office when she receives an e-mail from your CEO. Your Controller has been with the company long enough to know that her CEO never stops working. It is not at all unusual for him to be “working a deal” and e-mailing his people late on a Friday or Saturday night. The CEO explains that he needs to get a vendor he has been working with paid ASAP and can’t get in touch with you to process the payments. The e-mail trail includes e-mails from you that indicate you are in favor of this transaction and includes a copy of the invoice.

Being a good soldier, the Controller does not want to bother you or slow down the payment since clearly from the e-mail trail, you are on board with this transaction. So, she quickly sets up the wire for $28,523.49 to pay this invoice.

Just like that, this invoice is paid. Unfortunately, neither you nor your CEO have ever heard of this vendor and the money has disappeared into the abyss of the international banking system. Also, unfortunately, your bank is not at fault and is not responsible for the loss. Law enforcement can't help either. This money is not recoverable. D&O or other traditional insurance products won't address the issue either.

Does this sound like a nightmare you can wake up from and everything will be alright? Unfortunately, it is all too real... and it has a name: Social Engineering Fraud.

Social Engineering Fraud is endemic throughout the U.S. and Europe. You think Cyber-related risks are IT’s problem? Think again.

On July 12th, we will dive into Social Engineering Fraud. Why and how it’s keeping CFO’s up at night; and what to do about it.


Speaker: Grant Bell, Marsh & McLennan

Grant Bell is a member of Marsh & McLennan’s FINPRO resource group, and co-leads the firm’s Life Science practice for the Southeastern U.S. He will lead us in a discussion through the social engineering industry – as it has become an industry, how these claims happen; and what you and your company should be thinking about for readiness.


Directions

Directions:

From I-40 (Wade Ave)
•Take the Edwards Mill Exit and head northeast. (2.8 mi.)
•Turn right onto Park Lake Road. (.2 mi.)
•Go to the building on the right.
•Best parking is behind the building.

From US-50 (Glenwood Ave)
•Turn southwest onto Creedmoor Road (US-50) (.7 mi.)
•Turn Left onto Park Lake Road. (.2 mi.)
•Go to the building on the right.
•Best parking is behind the building.


About the Raleigh, NC Chapter

The Raleigh chapter has over 900 members and meets monthly, generally on the 2nd Wednesday of each month from 6:00 pm until 8:00 pm. Meeting locations vary so be sure to double check each month. Guests and prospective FENG members are always welcome. First-timers are given the opportunity to introduce themselves to the other chapter members. Most meetings include a speaker and a current topic of interest to our members.

We look forward to meeting you and getting to know each other.

Chapter Leadership

Ted Bachman
tedbachman@mindspring.com
(919) 606-3477
Jack Finley
nccajun1@bellsouth.net
(919) 832-5130

Future Meetings

08/02/2017
06:00 PM to 08:00 PM
Date: Wednesday, August 2, 2017
Pay special attention to the date of our August meeting. It is NOT the 2nd Wednesday of the month. It IS the FIRST WEDNESDAY of August.

Time: 6:00 pm to 8:00 pm

Place: Carmen’s Café
108 Factory Shops Rd
Morrisville, NC 27560
(919) 467-8080
http://carmenscubancafe.com/

Host: Dave Rhode
VACO Raleigh, LLC
2501 Blue Ridge Road, Suite 400
Raleigh, NC 27607
Office: 919.719.6500


For Meeting Information, Please Contact:
Ted Bachman
tbachman@BachmanAssoc.com
919-606-3477

OUR SPONSORS:

cfo