Deep Fake: The Next Frontier in Cyber Scams

One of the most notorious incidents of cyber crime to date also stands out for the bare-faced cheek and simplicity of the methods employed. When criminals targeted Austrian aerospace firm FACC, they didn’t bother trying to hack into the company’s IT systems, bring down firewalls with a DDoS attack, or plant malware on its servers to quietly mine sensitive data.

Instead, they simply impersonated CEO Walter Stephan, sending a fake email in his name authorising a junior member of the accounts teams to send $47m to what the email claimed was the bank account of a company Mr Stephan was negotiating to buy. It wasn’t, and the thieves made off with the biggest single haul in cybercrime history.

No Happy Ending for Insolvent Dark Bunny Tees

There have been plenty of stories in recent times of large corporations going bust, leaving a trail of out-of-pocket suppliers and creditors in their wake.

But it would be wrong to assume this is the kind of thing that only happens in the world of big business. Even down at the ‘grassroots’ level of microbusinesses and one-man-bands operating in niche cottage industries, where the principles of trust and your word being your bond are still believed to hold sway, things can go wrong.

Carillion Collapse Sends Shockwaves Across The UK

The collapse of construction giant Carillion could spell havoc for the UK’s small business economy, the country’s SME trade body has warned.

The massive building services conglomerate has been forced into liquidation with debts in excess of £2bn, putting 20,000 jobs at risk. As a major government contractor, there are immediate concerns over infrastructure and maintenance projects covering schools, hospitals and transport.

'Awkwardness Not Urgency' Sees UK's Smallest Firms Paid Late by a Year

The smallest firms in the UK are being paid late, in some cases by over a year, due to a lack of urgency and a sense of awkwardness about chasing clients for payment, new figures suggest.

A survey carried out by online accounts software provider FreeAgent revealed that just one in seven micro-businesses that issue invoices have never had to deal with an instance of late payment.

  1. Snoop Dogg Sues Beer Firm Over Unpaid Fees
  2. Small Business Act 2015 Steers Insolvency in Creditors' Favour
  3. Chasing Debts from Disqualified Directors
  4. Looking at the Small Business, Enterprise and Employment Act 2015

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