TORONTO, Nov. 01, 2017 (GLOBE NEWSWIRE) -- Cyber Security Awareness Month in Canada concluded with Public Safety Canada warnings of a surge in scam calls looking to confuse and defraud Canadians. With the publication of the Canadian Cyberfraud Handbook, Thomson Reuters introduces a fresh approach to prevention and investigation of deceptive practices. The premise is that if the scam can be identified, the damage can be prevented.
The new Cyberfraud Classification Framework is a systematic, two-step approach to categorizing financial scams that anyone can use. All readers will derive the satisfaction of having flagged an attack and hopefully helped others to do the same, but the goal of the publication is to empower organizations, professionals and advisors to identify trends and build countermeasures.
“Combatting the multifaceted threat of cyberfraud estimated by Canada’s Anti-Fraud Centre (CAFC) at over $100 million in annual losses should be a priority for every organization, large and small,” according to the book’s author, security and privacy expert Claudiu Popa. The new cyberfraud taxonomy introduces a practical model for unpacking and presenting cyberfraud information to educate professionals and empower business leaders in making effective risk-based decisions.
The classification methodology is generating broad interest across Canada with diverse organizations learning about the mechanisms behind cyberfraud for the first time. “With numerous upcoming events, the single act of classifying cyberfraud is a significant step forward compared to the reactive approach to detecting scams that has become the status quo in Canada,” says Popa. This November, the book is being showcased at the International Cyber Security and Intelligence Conference, the University of Ontario Institute of Technology and the Office of the Privacy Commissioner of Canada.
Based on years of research into hundreds of real cases, the book also includes a unique Cyberfraud Resource Library. The compendium of scams and real examples of prosecuted cases represents the first time such an effort has led to a comprehensive and accessible resource.
Primarily designed for business professionals, consultants and legal advisors, the Canadian Cyberfraud Handbook (www.FraudBook.ca) was written with financial cybercrime awareness in mind, specific to the emerging threats increasingly targeting Canadian citizens and organizations. This inaugural edition explores the evolution of cyberfraud from its earliest origins to the current trends of malware-powered automation, artificial intelligence and digitally enhanced deceptive practices.
With 10 categories and over 45 subclasses the taxonomy and associated library of examples offer a flexible structure for organizations beginning to create a cyber risk strategy. The main categories include facets of cyberfraud that break down with increasing precision:
- Unauthorized Access
- E-Commerce Fraud
- Email and Social Media
- Identity Fraud
- Investment and Securities Scams
- Financial System Abuse
- Advance Fee
- Healthcare and much more
From the book’s official site at www.Cyberfraudbook.com: “Recent reports indicate that for the first time in history, the staggering growth of cyberfraud has outpaced increases in transaction volumes as it continues to sweep through the developed world with devastating consequences. Financially motivated cybercrime in North America is poised to scale over the next few years and Canadian organizations of all sizes will inevitably be impacted, changing the risk advisory landscape and impacting regulated and unregulated sectors alike.
"The Canadian Cyberfraud Handbook takes the lead in defining the language and structure of cyberfraud, identifies and classifies global trends and offers applicable strategies that position cyberfraud prevention as a risk management initiative. This immersion into cyberfraud belongs on every professional's bookshelf alongside security program management and privacy compliance leadership materials.”
About the Author
Claudiu Popa, CISSP, CIPP, PMP, CISA, CRISC, is a leading authority on risk management, personal information protection, data security strategy and author of four books including The Canadian Cyberfraud Handbook: A Professional Reference (Thomson Reuters) and Managing Personal Information: Insights on Corporate Risk and Opportunity for Privacy-Savvy Leaders (Thomson Reuters). He is the co-founder of the KnowledgeFlow Foundation, a Canadian non-profit organization with the unique objective of bringing children, families and communities in touch with cybersafety techniques that provide lifelong protection from scams, privacy abuses, online victimization and cybercrime.
Through public speaking, media appearances and editorials, Popa remains an ardent supporter of Canadian corporate innovation and technology competitiveness in the global economy. For over 25 years, he has been an active participant in the development of standards, systems and methods to improve cybersecurity education and protect information assets. Claudiu is the CEO of Datarisk Canada and Informatica Security Corporation. He can be reached at Claudiu@SecurityandPrivacy.ca for commentary and media interviews.
About the Foundation:
The KnowledgeFlow Cybersafety Foundation is Canada's first cyber safety initiative built on a solid backbone of professional expertise in security and privacy. The foundation has forged alliances with law enforcement, municipalities, government agencies and boards of education to bring cybersituational awareness and other critical education to educators and vulnerable sector individuals across Canada. The organization is funded through grants and public support focused on particular initiatives, particularly a national initiative to train school principals and teachers to apply the First Principles of Cybersafety. KnowledgeFlow also offers workplace cybeharrassment certification training, cyberbullying prevention and online victimization support solutions. On the Web: https://www.cybersafetyfoundation.org/ or www.KnowledgeFlow.ca
For more information:
Thomson Reuters: (416) 609-3800 or www.FraudBook.ca
Claudiu Popa / KnowledgeFlow: 416-431-9012 by email: Info@KnowledgeFlow.ca or SoundBites@SecurityandPrivacy.ca