Group items tagged

I believe every business, especially if it is a huge corporation, should protect and control their company's data. A company's data falling into the wrong hands can be a huge drawback for the company, especially if it comes into contact with a competitor. This article explains how IBM have introduced a new security tool with Big Data to identify any suspicious internal and external security threats as well as flag any company secrets from displease employee's emails and their social medias. The new system can alert any frauds and risks from decade worth of emails, financial transactions, and websites. CIOs will be able to conduct a sentiment analysis on employees to see which worker is the most likely to expose company's information. Some can argue that employees have the right to post anything on their social media's accounts but if an employee still is employed by the company then it should be all bets off. The company should have all rights in making sure their information does not get leaked out by an employee who is simply having a bad day.

Fake news, fake marketing claims, fake influencers, fake customer service. So much of this fakery is funded through advertising, and biggest thing they sell is fake traffic.

Second, there are scrapers that take original content from one site and put it on others as well as take customer lists, contact information, and other valuable data. Third, spammer bots are used to drive Internet traffic to spammer websites. Finally, marketers are most concerned with click bots. This is a relatively new type of ad fraud and that click on performance-based and PPC ads that drive up the cost of this type of advertising.

SUMMARY: With the rise of Aritiial Intelligence and computer algorithms/programs it becomes more apparent that emarketing is under constant threat of fake traffic and analytics. Over half the internet traffic is being used by bots. Marketers must invest in tools to fight fraudulent traffic. Anti fraud and tracking platforms can be utilized to combat fradulent traffic. If there is money in fake traffic, the bad bots will constantly create problems creating fradulent traffic. Marketers have to stay vigilant and informed about new threats to their emarketing campaigns so money isn't being spent on bad bots/fradulent traffic.

In modern restaurants, it is necessary to use technology to manage restaurant revenue. With issues such as network security becoming increasingly prominent, it is also necessary to establish a sgood electronic operating system.

This article goes over four ways that the point of sale systems can help elevate restaurant fraud. The first is to restrict remote access. It is only necessary to allow a limited number of known IP addresses access. Remote connectivity should only be enabled during hours of business and when updates are needed for the system. Using firewalls is highly recommended as another added layer of protection. Keep Wi-Fi and security cameras separate, if they are also connected. Next is to upgrade to EMV, which is chip technology is undoubtedly the most significant way to reduce fraud and criminality. All of the security in the world is essentially rendered useless if POS devices have not been upgraded to support EMV payments. A business also must have a secure network, which includes having firewalls because they are of the utmost importance in a proper security plan. To secure the system, firewalls must be activated, and the number of IP addresses for outbound firewalls must be limited. Lastly, the company must adhere to PCI compliance. Complying with PCI standards provides another layer of security. The Payment Card Industry (PCI) Standards call for merchants that accept, store, process, and transmit card information to do so within a safe environment.

This article provides a summary of the technology trends in the restaurant industry. One major point that I thought was related to this weeks topics was the 5th trend. Technology that is allowing guest to split the bill using their smart phones is an amazing way to keep track of income/bills/receipts and a great away to avoid fraud. In our discussion, if guests had used this technology, then the fraud would have been spotted almost immediately. The article also goes on to explain Eruza, which is a cloud-based system that will eliminated waste and improve profits by predicting demands for products.

This article highlights all the necessities to make sure your hotel is safe and secure for all your guests. It specified for cyber security, however, that switching to a VLAN server would be massively beneficial for the hotel as it becomes a private server that has multiple stages of security to bypass. In addition, it advises the modification of passwords every few months because apart from cyber breaches, people also try to con others out of their passwords by word of mouth and manipulation.

In this article it talks about the 12 different ways to increase security in our hotels and how to make thing more safe for our guest.

This article talks about how the hospitality industry has become more susceptible to cyber-attacks. Hotel companies like the Marriott have faced costly fraudulent cases online and have implemented new programs to ensure safety and security.

The overcharge nightmare of an establishment and their quick response to guests has led Sacred Rose Festival to scramble in response to outraged customers. The festival has shared the error came with the systems configuration and are PCI compliant with no exposure to breaches or fraud, but one would venture a guess there is more to this story.

More hotels are now using contactless check-ins by allowing the guest to be able to use their mobile devices as their digital room key. This is great for the pandemic to social distance but potentially risky due to hackers. As long as hotel operators adopt multilayer security strategies then they can provide a safe and secure environment for everyone.

A new set of standards is coming up for credit card transactions. EMV or Europay, Mastercard, Visa, standards include a chip-and-pin device on the card that requires the card to be inserted into the card processing terminal. While this does not prevent all fraud, it's important that this standard is mandatory by 2015 and business operators should be preparing for changes.

For family run business, according to Ms. Bekiroglu, to know its business' better way is to keep up all like payment kiosks, self-check out stations, touchscreen interfaces, etc. and the most important 3 parts are the "chip based credit cards", "new payment services players" and the "enhanced security". Chip based cards is more secure and the data is single used in the transaction, and it can crack down on fraud and identity theft. New payment services players mostly means the apps. From my opinion, the important thing for the whole business world is the security part. One of my friend used the credit card for gas, however, in days, the card had been used over 4 thousands. Finding out the reason is because the leaking information at the gas station. Only the security part has been enhanced, POS systems would be more effective.

The FTC filed suit against Wyndham Hotels for millions of dollars worth of fraud in June of this year. Wyndham hotels manages over 7,00 hotels worldwide. Incidents occurred a numerous amount of times over the past three years. The company was hacked into and stole credit card numbers from over 500,000 clients. In the first occurrence the money was wired into an account in Russia. Even after the first incident Wyndham hotels did not fix the security breach allowing the hackers to get in.

The organizer, Billy McFarland, 26, was also sentenced for running a sham ticket-selling business - but that fraud was run-of-the-mill compared with the Fyre Festival, which had been promoted by A-list social media influencers but imploded just as publicly on Instagram and Twitter. Mr. McFarland had promised an event with luxury accommodations and performances by bands like Blink-182. But the festival never took place, leaving attendees wandering unfinished sites on the island of Great Exuma in the Bahamas.

In a sentencing memorandum, prosecutors had asked for a prison term of at least 11 years. They called Mr. McFarland "the consummate con artist," adding: "He betrayed and deceived his investors, customers, and employees while he was living the high life at his luxury apartment, traveling to exclusive locales, staying at luxury hotels, being chauffeured in his Maserati, and entertaining himself and his friends at restaurants, bars, and casinos."

Summary: Billy McFarland utilized all of the tools available to hype up an event that had no validity or credibility by solely relying on social media influence to promote a lie.

The cloud will provide the digital infrastructure for the cities of tomorrow, where an estimated 6 billion of the world's population will live by 2045. A commercial aviation cloud will help airlines. A utilities cloud will automatically repair faults in the power grid to ensure a smooth supply of power to homes and businesses. A banking cloud will scan thousands of transactions per second to prevent fraud. The cloud will help society cope with growing volumes of data. High definition video will account for 89% of individual user traffic by 2025, of which image and video content will be for non-entertainment purposes. The cloud will support the emerging artificial intelligence technologies which will be adapted to mobile use, notably the cell phones which overlook PC sales in 2011. Although driverless cars are still a ways off, it will be realized soon, thanks to the power of the cloud.

As the world becomes more dependent on technology, the opportunities to exploit or steal one's personal information becomes easier and easier. Passwords and pins can be stolen. Manager cards can be handed out or duplicated. Bio metric information is the one thing that remains a secure way to ensure proper protocols are being followed. Short of cutting off someone's finger, it is impossible to duplicate an individuals bio metric information. This is proving to be a very cost effective means of ensuring compliance to company procedures. The savings in time card fraud, or improper void protocol outweigh the expense of implementing the system. I believe that this is a sign of things to come, as our world transitions to a more electronic state; Bio metric information is the only secure means of insuring the actual "user" is the one performing the specific task.

This concept is very interesting as I deal with timecard fraud often. However, without the option of over riding or using a paper time correction, I wonder if it would actually waste some time waiting for a manager to come and fix the problem.

As a manager, I prefer the biometric option for punching in and out of employees. The only problem I have seen with this technology for employees is for those that work in laundry or dish washing areas. The constant exposure to heat and water on their fingers causes their fingerprints to distort temporarily. I find that I have to utillize less dominant fingers to make it work for these associates. I have made it mandatory for any associate to speak with a manager if they do not punch in or out correctly.

This article contains an interview with the CEO of the payments technology company Affirm, Max Levchin. Affirm, established in 2012, is a payment technology firm that allows for travelers to pay for trips via a monthly payment plan. The company fully pays the travel provider and then is responsible for collecting the funds from the traveler. The payment does not need to be paid in full prior to travel. Levchin says that this product is attractive to companies because airline and hotels don't have to worry about interchange, processing fees and fraud. It benefits consumers because they are able to book early when prices are lower instead of "saving up" to book closer to the date of travel, when the trip is more expensive. They have seen an increase in advance bookings with Affirm for trips over $250. He suggests that this will disrupt traditional travel industry e-commerce and make travel more accessible.

According to this article, the hospitality industry has one of the highest numbers of security breaches. Due to the nature of the business, credit card fraud and identity theft crimes seem to be an ideal target for cybercriminals. Humor error, high turnover rate, and insider threats are just a few primary factors for security breaches within the hospitality sector. The consequences of data breaches can have a long lasting impact on the company, including, customer trust, tarnished brand reputation and legal and financial problems. As we all know, hotel owners and operators do not want anything to impact their revenue. Encryption of credit card information, operating a continuous training program in cybersecurity, adhering to relevant regulations, using firewalls, and a detailed response plan in the event that a data breach should occur are a few practices the hotel sector can implement to mitigate a cyber attacks.

This article describes how technology will affect accounting system, and the reason to adapt new technology. The world has been dramatically changed over 20years. Paper was dominant back in 1990' but now most jobs are done by computer and Internet, and furthermore, the monthly fee for the Internet has been going down a lot. Everyone in the world enjoys the advantages of the Internet, and job efficiency increases. Especially, this article said technology will impact accounting profession a lot in the future. When we consider the current technology development in accounting area, the Web, mobile and social media have had a huge impact on company's operation. This article introduces that artificial intelligence(AI), cognitive computing/machine learning, natural language processing and blockchain will be adapted highly in next 20 years. For example, tax systems will guide us through the calculations and highlighting review section, and provide advice. A Huge amount of data will be collected and generate real meaning about the data and guide the business. Furthermore, continuous and real-time audit will be available. Fraud detection also will be faster and easier. As can be seen here, the profession will evolve very rapidly in next 20 years, which means it will be completely different from what we see today. This disruption challenges us to catch up with the fast pace of change but the potential of new technology provides opportunity, so adjustment for new pace is needed.

This article features an automated data gathering system that measures patterns in employee/personnel returns, refunds, etc. that can help identify misbehavior. As discussed in our discussion board about Restaurant Fraud, this type of software could absolutely assist with monitoring and accountability for employees of any level, including management. An added bonus is customer data to increase and improve service

POS breach at White Lodging, huge important personal information was stolen and was able to access for over 7 months. White Lodging hire third party security firm to protect customers.The key to managing the risks are keeping monitoring systems and updating software. Besides, insurance is available to protect against costs for data breaches.

A so called restaurant owner applied for $440,000 in forgivable loans to keep employees paid through the Paycheck Protection Program. The man claimed to own 3 restaurants, but 2 of the restaurants were not open before the coronavirus pandemic and he had no connection to the third. The "owner" disappeared after receiving the $440,000.