Opinion: Who are your riskiest vendors?
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Jay Cline has three simple steps to get companies off the dime when it comes to assessing the risks their vendors and partners pose to its sensitive information.
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Here's hoping you're not a typical trader, in many regards.
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Irregular hors d'ouevres, scheduling mishaps, and the stockbroker's eternal dilemma.
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Averse to risk? Check out these nontraditional drug companies.
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Apparently it&#39;s not just unwary individuals that fall victim to online scammers. Even large corporations, it seems, can get suckered into parting with their money by devious&#160;phishers.Case in point: Eden Prairie, MN.-based grocery chain Supervalu, which earlier this year got conned into depositing more than $10 million into two fraudulent bank accounts before recognizing the ruse. Details of the case are contained in court documents filed in connection with two forfeiture cases stemming from the incident.According to federal court filings in the U.S. District Court for the District of Idaho, the fraudulent activity took place in late February and early March this year. In the court filings, Stephen Kilgroff, Supervalu&#39;s vice president of legal affairs, said that on February 26 and 28 the company received two separate e-mails, one purporting to be from an employee at American Greetings Corp. and the second from an employee at Frito-Lay, both company-approved vendors.Both e-mails told Supervalu to send future payments for each vendor to new bank account numbers. In the case of the e-mail that purported to be from American Greetings Corp., Supervalu was advised to send payments to an HSBC account in Miami. The other e-mail advised Supervalu to send Frito-Lay payments to an account at First Security Bank in Rogers, Arkansas.Between Feb 28 and March 3, Supervalu deposited just over $6.5 million via multiple wire-transfers to the HSBC account, thinking that it was sending the money to American Greetings Corp. Similarly, on March 2 it made eight separate wire-transfers to the bank in Arkansas, depositing a total of $3.6 million to an account it thought belonged to Frito-Lay.In addition to the $6.5 million deposited by Supervalu into the HSBC account, an additional amount of $500,000 had been deposited into the same account by a second company, identified as &quot;ROHM&quot; on court documents. No information has been available concerning the second company, and it is not a party to subsequent litigation.Around March 6, according to the filings made by Kilgroff, Supervalu discovered that it had been &quot;induced&quot; into making the transfers to the bogus accounts. Following the discovery of the fraud, Supervalu quickly notified the appropriate law enforcement authorities, who managed to recover nearly all of the money before it could be withdrawn from the accounts.The recovered money is now being claimed by Frito-Lay, American Greetings and Supervalu. In making the claim to the recovered money, Frito-Lay said that it believes the money belongs to Supervalu and said supported that company&#39;s claim to ownership of the misdirected funds.&quot;However to the extent there is any determination that the ownership of these funds changed from Albertsons/Supervalu [the Albertsons grocery chain was recently acquired by Supervalu] to Frito-Lay (as a result of the attempted transfer, the misdirection, or any other development) Frito-Lay makes this claim to these funds in the alternative and subject to any claim of ownership by Albertsons/Supervalu&quot; the company said in an affidavit.A federal judge is expected to rule sometime in November on which firm should receive the recovered funds.A spokeswoman from Supervalu responded via e-mail to a request for comment. &quot;As indicated by the forfeiture complaint filed by the U.S. Attorney&#39;s Office in Boise, Supervalu was the target of attempted financial fraud,&quot; spokeswoman Haley Meyer said. &quot;Due to our internal controls and processes, we were able to quickly discover and report this to the FBI. As a result of the quick work of the Boise FBI Office and the U.S. Attorney, any funds lost are minimal.&quot;Computerworld is an InfoWorld affiliate.&#160;
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Too busy to sell your junk online? A growing crop of companies will do it for you -- for a healthy cut
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The year just ending has been a tough one for enterprise vendors of all stripes. It has been particularly challenging for the nascent supply-chain visibility field. Unfortunately, 2005 will bring more challenges and continued slow software sales, predicts Forrester Research's Noha Tohamy.
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These products don't come without serious risks.
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Choosing a search marketing vendor requires careful consideration of how they will integrate with your other marketing efforts.
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Sort the good from the bad before you make your investments.
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I overheard a long-time hospital client talking to another support vendor today. The hospitalâs patient accounting department was attempting to send patient financial and billing data to a third-party biller. The vendorâs normal Web site was down, and they were trying to come up with an emergency fix.
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Step away from all the vendor hype. The one device that will always be the best tool for information security is a competent security professional.
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Help us find the stock with the most frightening valuation.
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Blog: Roy Russo argues that open source vendors are monopolies waiting to happen.  Here's why he's wrong.
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The vendor adds to its growing list of spam lawsuits one aimed at a service provider that hosts spammers. By Thomas Claburn. Cheapbulletproof.
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Don't take big chances with your money -- look for SIPC protection.
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Bargains or busts? Let's work together to find out.