Gone Phishing: Approaches to Cyberthreat

With cyberattacks at an all time high, how do you protect your business? Join Cadence Bank’s Chief Information Officer Kevin McMahon and Cadence Insurance Senior Producer Brendan Monaghan as we discuss phishing, business email compromise, ransomware and how best to prepare for the cyberthreats targeting your business.

Show Notes

Are you doing enough to protect your business from cyberthreat? With cyberattacks at an all-time high, you may not be as prepared as you need to be. You might even think your business is too small to be targeted, but think again: the Verizon Data Breach Investigation Report states that 43% of online attacks are now aimed at small businesses. Cyberattacks are also expensive – according to the FBI’s Internet Crime Report, the cost of cybercrime against small businesses totaled $2.4 billion in 2021 alone. So when you’re surrounded by bad actors, what can you do to protect yourself?

Fortunately for all of us, there are people out there like Cadence Bank’s Chief Information Officer Kevin McMahon and Brendan Monaghan, Senior Producer with Cadence Insurance. Brendan and Kevin both keep up to date with the latest cyberthreats and have some simple approaches they recommend for protecting your business. On this episode, you’ll learn what common cyberattacks might look like, their most frequent targets and what to do if you have an incident. Plus, we’ll cover how to transfer your risk with the fast-evolving segment of cyber insurance.

So join the cyberthreat triple threat – Kevin, Brendan and Patrick – and together we’ll brave the phishy waters of cybercrime.

Highlights:

• The growing threat of cyberattack (4:08)
• The consequences of cyberattack (5:03)
• Who’s at risk? (7:03)
• Social engineering (8:46)
• The number one way to protect your business (10:32)
• Phishing (11:34)
• Business email compromise (12:54)
• Ransomware (13:50)
• Concrete steps to protect your business (15:29)
• Cyber insurance: how to assess your options (18:27)
• Incident response planning: every second counts (20:30)
• Incident response planning: build the right team (20:45)
• Cyberthreat wrap-up (21:34)

Links:

• Cadence Bank Website
• Cadence Bank Twitter
• Cadence Bank LinkedIn
• Cadence Insurance Website
• Kevin McMahon LinkedIn
• Brendan Monaghan LinkedIn
• Verizon - 2022 Data Breach Investigation Report
• FBI - 2021 Internet Crime Report

Feedback:

If you have questions about the show or topics you'd like discussed in future episodes, email our producers, [e-mail] or [e-mail].

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It’s hosted by Patrick Pacheco, an EVP and President of Cadence Asset Management and Trust, who has more than 25 years’ experience and is a self-proclaimed lifelong learner. He leads discussions with business owners and subject matter experts about how they’re tackling business challenges like:

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ABOUT OUR HOST
With more than 25 years’ experience in wealth management for business clients and a penchant for hosting, Patrick Pacheco is an EVP and president of Cadence Asset Management and Trust, and presenter of the bank’s In Good Companies podcast, now in its fourth season.
His background features years of legal practice and multiple degrees, including a Master of Taxation from University of Houston, a law degree from Southern Methodist University, and both a Master of Business Administration and Bachelor of Science in Economics from University of Texas at Arlington.
Pacheco describes himself as a lifelong learner and someone who loves asking questions–probably the ones you’re thinking about too. He’s especially excited about season four because of the diversity of topics and guests who will not only share their wealth of knowledge, but listeners will also get tips and tricks they can use in their own businesses, careers and professional lives.