No ransom demand? Risks may still exist (Kroll Perspectives Vol. 4, No. 3)

Date: Jun 2017

No ransom demand? Your network may still be a victim of the EternalBlue vulnerability.

If your organization avoided infections by the WannaCry ransomware last month, your network could still be seriously compromised by two other malware variants that use the same underlying Microsoft Windows vulnerabilities –“EternalBlue” and “DoublePulsar.” Another piece of malware that exploits the same vulnerabilities –“Adylkuzz” – began circulating before WannaCry, perhaps as early as late April. Adylkuzz has an entirely different objective than WannaCry and is not ransomware.

Modern slavery: Referrals for labor exploitation in the UK increase by a third

The number of potential victims of labor exploitation referred as part of the framework set up to identify victims of modern slavery in the UK increased by 33 percent from 2015 to 2016, according to Kroll's analysis of National Crime Agency data. The data was taken from the National Referral Mechanism (NRM), the framework in which potential victims of human trafficking or modern slavery are referred by authorized agencies such as police forces, the UK Border Force, or social services. There were 1,575 referrals for labor exploitation in 2016, with the number of minors increasing by a highly troubling 63 percent.

Kevin Braine, Head of Kroll’s Compliance Practice in EMEA, explains: “There is sometimes a false assumption that modern slavery only occurs in certain countries or certain types of industry, but the increase in the number of referrals of labor exploitation victims indicates that modern slavery is very much an issue for UK employers. Even lower risk businesses, such as professional services firms, are now waking up to the fact that they may be sourcing goods or services from third parties that have few or no modern slavery controls in place."

Building business resilience

In March 2011, a powerful earthquake and subsequent tsunami in Japan caused a chain of events that resulted in the worst radioactive crisis since Chernobyl. Across the Pacific, a group of senior U.S. government leaders and their staff met nonstop. The day-to-day responsibilities of many of these leaders had nothing to do with crisis response. However, most knew each other by face and name because only months earlier, they had participated in a quarterly exercise that addressed a hypothetical nuclear emergency inside the United States.

According to Associate Managing Director Jordan Strauss, who previously served as a Director at the White House National Security Council specializing in incident management, organizations could learn from government in this space. He specifically suggests that business leaders should consider three principles when planning for resiliency in the event of a crisis:

  • Preparedness is a process, not a state
  • Risk is a function of both likelihood and consequence
  • Actual risks should inform resource allocation

Navigating the world of smartphones and digital forensics

A client recently presented our Kroll Cyber Investigations team with a seemingly simple and straightforward request:  Examine a collection of company-owned smartphones and get all of the data back, including deleted files. However, unlike forensics conducted on desktops or laptops, recovering data from mobile devices is beset with a host of challenges. Senior Director Devon Ackerman provides insights into the unique complexities associated with recovering data from these devices. He also offers three best practices that can help facilitate digital forensics on company-provided mobile devices.

Use of intelligence in identifying assets

Imagine you are legal counsel for a client and need to investigate the assets of an entity whom the client is considering taking action against. It turns out that these assets are not only well hidden, but also hidden in an opaque jurisdiction. As Managing Director Richard Dailly notes in this article originally published in Asian-Mena Counsel, Kroll sees these kinds of problems all the time. Richard describes various investigative approaches that can help lead to more successful outcomes, such as employing discreet human intelligence to change the theater of operations and thus providing a new environment for the client to take action.

Announcing new leaders

David Lawler, Managing Director, London. David is a seasoned forensic accountant, with over 25 years’ experience helping multinational companies, financial institutions, and their advisers identify, investigate, and respond to complex financial issues. He is an expert in internal investigations and the use of analytics to highlight high-risk transactions and to put in place best-of-breed procedures and controls to stop the recurrence of problems. David also has significant experience working with companies, regulators, prosecutors, and monitors on worldwide compliance, ABC, and AML matters, both reactive and proactive. Read more.

Louis-David Magnien, Managing Director, Paris. Louis-David joined Kroll after 22 years in investment banking and investment management, with extensive expertise in capital markets, advisory, and regulatory matters. He advises financial institutions, funds, financial services, and investors as well as corporates and governments based in continental Europe and the UK on strategic matters such as business intelligence, pre- and post-transaction due diligence, fraud investigations and asset searches, claims and litigation support, compliance reviews, and forensic investigation audits. Read more.

Keith Wojcieszek, Associate Managing Director, Washington, D.C. Keith joined Kroll from the United States Secret Service, where he served with distinction for 15 years. Most recently, Keith led the USSS Cyber Intelligence Section, Criminal Investigation Division, where he managed the agency’s national response to cyber investigative initiatives focused on protecting the financial infrastructure of the United States. In this role, Keith also coordinated complex international investigations that targeted transnational organized crime networks with an emphasis on cyber and information security. Under Keith’s leadership, a number of these cases resulted in the apprehension of highly sophisticated cyber criminals who collectively were responsible for causing over $1 billion in financial losses. Read more.

The Insider Threat: Enhancing Data Stewardship to Protect Your Information Assets

June 13, 1 p.m. EDT. In this one-hour webinar, Philip Gordon, co-chair of Littler Mendelson’s Privacy and Background Checks Practice Group, and Greg Michaels, Associate Managing Director in Kroll’s Cyber Security and Investigations practice, will provide the best practices you can use to fight the insider threat and will offer practical recommendations for identifying, responding to, and preventing potential threats through enhanced training, policies, process, and technology.

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Defining a Risk-Based, Scalable, and Sustainable Approach for Third Party Monitoring

June 15, 10:00 a.m. EDT. Regulators have been unequivocal in their expectation that companies know who they are doing business with. While pre-onboarding due diligence on third parties has become the cornerstone of most compliance programs, many companies are still feeling their way toward integrating effective post-onboarding monitoring strategies. Join webinar host Managing Director Robert Huff for an interactive discussion about current regulatory guidance; challenges that are driving the need for post-onboarding monitoring; how a one-size-fits-all approach can fall short; and practical steps and resources you can leverage to define and execute a sustainable approach to third party monitoring.

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Jul. 27, 2017 | Singapore

Mapping Cyber Protections to Regulatory Requirements for Fintech

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OPERATE WITH CONFIDENCE: RESPONDING TO THE CHANGING RISK ENVIRONMENT IN LATIN AMERICA.

Whether operating in the region or conducting business through third parties, the shifting risk and regulatory landscape in Latin America poses many challenges. Hear from Kroll experts, led by Managing Director and Mexico Office Head Brian Weihs, as they discuss the changing risk environment in Latin America and the potential implications on your risk mitigation and due diligence programs in the region.

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