Criminals monitor social media of finance workers

Criminals monitor social media of  finance workers

An organised gang from the Philippines recently used social media to work out that the director of a Jersey company, which has not been named by the authorities, was on leave before asking for money to be moved on the director’s behalf.

The plot was foiled and the matter is now being dealt with by the Filipino authorities.

Yesterday, some of the world’s leading cyber security experts spoke at a conference at the Freedom Centre in St Helier to warn finance firms of the dangers internet criminals pose – especially in a finance-led jurisdiction such as Jersey – and what they can do to help protect themselves.

Speaking at the Jersey Financial Services Commission’s Directors’ Cyber Security Masterclass, Martin Smith, the founder of worldwide cyber security forum the Security Awareness Special Interest Group, said criminals were now extremely sophisticated and would use social media to learn about their targets before making an approach.

He added that firms could spend thousands on internet security technology but if their staff were not vigilant it was worthless.

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