Defending Businesses Against Ransomware Attacks

SDC CPAs is one of the only women-owned businesses operating in the forensic accounting industry. The highly qualified, multilingual staff at SDC CPAs has decades of combined experience working with businesses to identify and protect against cybersecurity attacks such as ransomware.

Ransomware is a type of malicious attack in which hackers encrypt a company’s data or software systems and demand money to remove the blockage. While ransomware attacks are becoming increasingly common, there are steps businesses can take to protect themselves. First, all employees should be trained to recognize phishing attempts through email or website links.

Companies should also protect their internal IT infrastructure by using high-quality anti-virus software, private Wi-Fi connections, and virtual private networks. Finally, having a robust business continuity plan that considers cybersecurity is key to remaining productive during an attack. This may include securely backing up all important systems and files, as well as providing employees with clear instructions as to how to respond to a ransomware attack.

Types of Insurance Fraud Committed by Agents and Agencies

Based in Aurora, Illinois, SDC CPAs is a women-owned business that provides fraud investigation and forensic accounting services to claims adjusters. Fraudulent insurance claims are costly to insurance companies. SDC CPAs prevents such losses through extensive claim investigations to weed out false claims.

There are many types of insurance fraud. Some of them are perpetrated not by insured persons, but by agents and underwriters. Here are a few of them:

-Premium diversion. This happens when agents, instead of forwarding premiums to insurance companies, pocket them. It is actually very common in the insurance industry and occurs mostly with workers compensation, due of the high dollar amount insured persons pay.

-Fee churning. This happens when insurance agents move policies from insurer to insurer, specifically life insurance policies, to receive the larger initial commissions offered by companies. When this happens, policyholders’ premiums typically rise and their coverage is often reduced.

Other types of insurance fraud involving agents are settlement check diversion and false death claims. In the former, agents pocket settlement checks meant for policyholders and in the latter, they collude with others to fake a life insurance policyholder’s death and claim the insurance payout.

What Are the Benefits of WBENC Membership?

SDC CPAs, LLC, is a global investigative and forensic accounting firm headquartered in Aurora, Illinois. SDC CPAs was formed by Dee Studler and Krista Doyle in 2001. Since its formation, SDC CPAs has been a member of the Women’s Business Enterprise National Council (WBENC).

The WBENC is the largest certifier of women-owned businesses in the United States. The Council ensures that each business it certifies is at least 51% owned, managed, and controlled by women who are U.S. citizens or permanent legal residents. This certification is accepted by over 1,000 corporations as well as federal, state, and local entities. It allows women-owned businesses to compete for business opportunities offered by corporations and entities that aim to work with firms who have female leaders.

WBENC certification also gives women-owned businesses access to mentoring and education, eligibility for scholarships, business promotion, networking opportunities, and other benefits to encourage business growth among those who are certified.