The Dangers of “Set It and Forget It.”

Posted 18 CommentsPosted in Accounting & Bookkeeping, Business

Like many small businesses, we use an online bill pay service, which integrates with our accounting package. While reconciling our checking account, I recently discovered that there were several duplicate payments which had been debited from our account. After calling the bill pay service, who transferred me to our accounting package’s support team, who wanted […]

Bank Sued for Losses Due to Alleged Weak Security

Posted 8 CommentsPosted in Accounting & Bookkeeping, Business, Internet, Personal Finance, Policies, Security

In a previous post, I wrote how small businesses are being scammed by European cyber-hackers. In a related story, Computerworld reports how Pacto Construction Co. in Portland, ME is suing Ocean Bank of Delaware because the company lost hundreds of thousands of dollars due to allegedly weak security on the part of Ocean’s online banking […]

Small Businesses Losing Millions to European Cyber-Gangs

Posted 1 CommentPosted in Accounting & Bookkeeping, Business, Internet, Personal Finance, Security

This week, the Washingon Post reported a fascinating story on how “organized cyber-gangs in Eastern Europe are increasingly preying on small and mid-size companies in the United States.” They appear to be targeting small businesses for the simple reason that they are easier nuts to crack than large financial institutions.