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Accounting firms are increasingly targeted by cybercriminals, with a significant shift from ransomware to data exfiltration, which is now involved in 91% of ransomware attacks, according to BlackFog. This double extortion scheme poses serious risks, as attackers can sell stolen data on the dark web, even if firms restore their files. The rise of remote work has expanded the attack surface, making sensitive data more accessible to criminals. To combat these threats, firms must adopt a prevention-first mindset, limiting access to sensitive information and securing devices used by remote employees. Authentication and monitoring controls should evolve to track login behavior and flag anomalies. Research from L Squared indicates that accounting firms face a 30 to 60% chance of a cyber event by 2025, emphasizing the need for proactive measures to protect client trust and ensure compliance with regulations.
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Are The Robots Finally Coming For Accounting?
Concerns about the impact of automation on jobs date back hundreds of years, but for much of that time, the assumption was that it was blue-collar workers that would be most vulnerable?...
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Blockchain How It Aims To Fix The Tax System
In collaboration with government and industry representatives, EY has created a far-reaching blockchain solution to address challenges in the cross-border withholding tax process...
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How Tax Pros Can Build Post-Tax Season Pipelines
Now that the extended tax season has ended - and with the worst of the COVID-19 pandemic hopefully behind us - tax professionals will be focussed on their post-season client pipelines...
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