Protecting your company against financial losses is the key element of maintaining a positive bottom line. Financial fraud investigations and security measures can help you to identify issues and to correct them quickly. This can save your company time and money when dealing with fraud originating from inside or outside your organization. Working with a team of experts in the cyber forensics field can provide you with added financial stability and increased profitability in the competitive marketplace. Here are some critical considerations when dealing with financial fraud and malfeasance in the modern marketplace.
Maintaining Regulatory Compliance
Staying on the right side of financial regulations regarding retention and storage of records is critical when investigating financial fraud. Working with an established cyber forensic investigations company can ensure that all elements of the process are handled appropriately and in compliance with the letter of the law. This can help you avoid regulatory issues now and in the future.
Establishing Proactive Protection
Implementing a plan to protect financial information and other sensitive data against unauthorized access and misuse can be a solid step toward increasing your company’s financial stability. If you are currently conducting an investigation of financial fraud or potential misuse of sensitive materials, it may be the perfect time to put added safeguards in place to protect your company against these serious risks:
- Damage to your corporate reputation that could cost you clients and affect your financial position
- Direct and indirect financial losses resulting from theft and fraud
- Misuse of proprietary processes and information that could affect your company’s prospects and could eliminate your competitive edge in the modern marketplace
- Regulatory actions that could result from failure to protect confidential client data in an appropriate and effective manner
Working with an objective outside firm to perform your risk assessments and to investigate allegations of fraud, theft of intellectual property or misuse of financial information can provide you with expert guidance on all aspects of your cyber security plan. By choosing a company with a solid reputation for success, you can ensure the best outcomes for financial fraud investigations and cyber security implementations. This can boost your return on investment while protecting your ability to serve your customers and clients effectively.
The team at LCG Discovery Experts can provide you with proven expertise and the support you need to manage e-discovery, litigation support, cyber security and financial fraud investigations effectively. Our digital forensic experts can perform risk assessments for your organization to ensure that you are protected against the most common cyber threats in the modern business world. Call us today at 855-524-9778 to schedule a free case consultation. We look forward to providing you with the most effective cyber security investigation services for all your business needs.
Preventing intellectual property theft and other cyber intrusions can help your small business stay competitive within your industry. Smaller businesses may be even more at risk of data breaches and ransomware than their larger counterparts. Verizon’s 2018 Data Breach Investigations Report indicates that 61 percent of reported breaches targeted small businesses, a significant jump from the 53 percent reported in the 2017 report.
A Staggering Cost
UPS Capital reports that the cost of cyber intrusions, data breaches and cyber attacks on small businesses range between $84,000 and $148,000. For most small businesses, these financial losses can be enough to sink the business permanently. The same report indicated that approximately 60 percent of companies go out of business within six months of a major data breach or cyber attack. Taking steps to protect your company against these serious issues can prevent devastating damage to your finances and your public reputation.
Small Businesses Specifically Targeted by Hackers
Additional statistics compiled by UPS Capital indicate that about 90 percent of all small businesses lack any cyber security plan for their corporate data, making them easy targets for hackers. In some cases, confidential financial information, payment data and proprietary software may be left without any real protection against cyber attacks. While cyber security investigations may be able to track down wrongdoers after the damage has been done, implementing measures to prevent intellectual property theft can protect your company against serious damage to its reputation and to its financial bottom line.
Protecting Your Digital Assets
Working with a professional cyber forensic investigations company can provide your company with expert support after a data breach. These dedicated technicians can also identify areas of concern in your current cyber security arrangements, allowing you to move proactively to protect your digital assets and confidential data. Some of the most effective strategies for improving your cyber security include the following:
- Training your staff members to protect passwords and to avoid becoming victims of phishing attempts
- Enabling advanced two-factor authentication for access to sensitive data
- Backing up all information to a remote server daily to avoid data loss
- Investing in a security audit to find vulnerabilities before they result in data breaches
- Boosting physical security for your brick-and-mortar facilities
LCG Discovery Experts can provide you with the expert help and guidance needed to seal holes in your security and protect your data against theft and misuse. We work with you at every stage of the process to ensure that your company receives the most accurate and appropriate guidance for your cyber security needs. Call us today at 855-524-9778 to schedule a consultation with us. We look forward to the opportunity to serve you.
E-discovery is an essential element in many investigations and legal proceedings. Understanding the e-discovery legal process can help you achieve the best results when dealing with lawsuits, courtroom proceedings and other activities on behalf of businesses and clients. Working with experienced digital forensic experts can provide you with the most effective e-discovery solutions for your legal firm or other corporate enterprise. Here are some basic facts about e-discovery in the modern business world.
What Is E-Discovery?
Just as traditional investigators compile physical evidence and clues in legal and criminal cases, cyber investigators are responsible for collecting electronic documents and data on behalf of their clients. The electronically stored information collected during these cyber forensic investigations may include website content, social media postings, voicemails, emails, video files and databases. Investigators typically look at time stamps, metadata and the properties of the files to determine author information and to protect the integrity of digitally collected evidence for use in and out of the courtroom setting.
How Does E-Discovery Work?
In general, e-discovery proceedings are initiated by a law firm, court official or private company. A general scope of discovery is established and search parameters are put in place to ensure that only the essential data is collected, stored and reviewed. Cyber security investigations personnel are given a list of relevant documents to identify and to secure on behalf of their clients. This data is then analyzed to determine its importance and to establish it as reliable and accurate for use in a court of law.
Why Is E-Discovery Necessary?
As more information is stored online, the need for professional digital forensic experts has increased exponentially for companies of all sizes. Electronic discovery can provide forensic evidence about criminal activities and can sift through large amounts of data to determine the most relevant information. This information can then be used to support litigators in pursuing lawsuits and legal actions and can provide actionable intelligence for companies interested in determining the source of issues with intellectual property and other unlawful appropriation of company data.
At LCG Discovery Experts, we offer full-service investigation services that encompass e-discovery and litigation support for corporate and legal clients. We work with your company or law firm throughout the process to ensure a clear chain of evidence that can be used in a court of law, allowing you to enjoy greater confidence when working with us. To learn more about our lineup of services, call us today at 855-524-9778. The team at LCG Discovery Experts is ready to take on your case and to find the evidence you need.