Dear Members and Friends,
The China-Italy Chamber of Commerce, The Swiss Chamber of Commerce in China, The Swedish Chamber of Commerce in China, The Singapore Chamber of Commerce and Industry in China, The Israel Camber of Commerce are delighted to invite you to a breakfast event on June the 12th:
Cyber Crime - Protecting Against A Growing Threat
Cyber-crime has emerged as one of the top four types of economic crime.
Between 2009 and 2011, an increasing number of companies reported that they had fallen victim to cyber-crime. While some of these threats may be discovered during internal auditing procedures, it took a well-known multinational company roughly 10 years to detect that they had been penetrated. Plenty of time for cyber criminals to complete their mission. According to PwC`s sixth Global Economic Crime Survey (GECS), of the respondents who had experienced economic crime, 28% reported damage to employee morale, 19% damage to reputation/brand and another 19% to business relations.
Fighting cybercrime from the top
Today, most people and businesses rely on the internet and other technologies. As a result, they are potentially opening themselves up the attacks from criminals anywhere in the world. Against a backdrop of data losses and theft, corporate espionage and hacking, PwC looks at the changing threat environment and how traditional defenses are ineffective in stopping today’s sophisticated cyber-attacks. A change in how we react to the threats is required. And that is something that needs to come from the top and from both Government and industry partnerships.
Economic crime is on the rise
PwC’s sixth Global Economic Crime Survey (GECS) has been completed recently. We have seen a 13% rise in economic crime since our last survey. Organizations, especially those in the financial services (FS) industry, see more fraud ahead. The fallout isn’t just the direct costs: economic crime can seriously damage brands or tarnish a reputation, causing organizations to lose market share. As society becomes less tolerant of unethical behavior, businesses need to make sure they are building, and keeping public trust. Traditional frauds like asset misappropriation, accounting fraud and bribery and corruption remain the top three that our respondents fell victim to in the last 12 months.
8.30-9:00 Presentation by Brian McGinley, PwC on GECS
9:00-9:45 Presentation by Samuel Sinn, PwC on Cybercrime
Brian McGinley is a Partner in the Forensic Services practice of the Hong Kong and China firm of PricewaterhouseCoopers. Brian was formerly with the PricewaterhouseCoopers forensic team in the United Kingdom from 1998, where he assisted clients with financial investigations matters, commercial disputes and regulatory compliance issues. In 2003 Brian moved to the PricewaterhouseCoopers forensic team in Hong Kong and since 2007 has been based in Beijing.
Brian advises companies on preventing, monitoring and responding to fraud and corruption issues within the PRC. His experience includes investigations into alleged breaches of the United States Foreign Corrupt Practices Act, employee fraud, asset misappropriation and financial statement fraud investigations and anti-corruption due diligence.
Brian has a focus on the pharmaceutical industry in China. He also has significant experience with retail, automotive and technology industries, working for a range of corporate clients, regulators and government bodies throughout Europe, USA, Latin America and Asia.
Samuel Sinn has more than 20 years of experience in providing information security, IT risk management and IT audit services to state-owned enterprises, listed companies and multinational corporations in China, Hong Kong and the United States. He has extensive experience in advising on technology risk management within the financial services industry, as well as exposures to industries, including telecommunication, technology and manufacturing.
Samuel has been working in China for 10 years. He provided IT risk assessments, eBanking security assessments, and IT security strategy advisory services to a number of large local banks as well as provided information systems security management advisory services to the automotive and telecommunication companies. Furthermore, he conducted a vast amount of IT audit work for various large local corporations.
Samuel received a Bachelor degree in Business Administration from the San Francisco State University in the United States. He is a Certified Information Systems Auditor (CISA) and Certified in Risk and Information Systems Control (CRISC) as well as a China Certified Information Security Professional (CISP) and serves as a Director of the Information Systems Audit & Control Association (ISACA), Hong Kong Chapter.
We encourage you to bring friends and colleagues and to forward this invitation to your business partners. We also appreciate your ongoing support in introducing new members` prospects to our team.
We look forward to seeing you there!