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Beware of too-good-to-be-true deals

www.manilatimes.net 07-12-2024 04:11 3 Minutes reading
As we enter the holiday shopping season with too-good-to-be-true deals, particularly with high-traffic days like Christmas, cybercriminals are primed to exploit shoppers' excitement for deals.In today's world of AI-driven phishing scams, if impeccable grammar and flawless writing are enough to bypass your email filter and fool your defenses, then you might already be at a disadvantage. These sophisticated scams are now operating at lightning speed, outpacing even your coffee machine on a hectic Monday morning! They've got grammar, style and charm — pretty soon, they'll know your Starbucks order too.This seasonal spike in online activity is accompanied by a corresponding surge in cyberthreats, including phishing, spam, and now even more sophisticated schemes like the "Phish n' Ships" campaign. This operation, active since 2019, has infected over a thousand legitimate online stores to display fake product listings, redirecting customers to fraudulent sites where their personal data and payment information are stolen. These tactics are especially dangerous as they leverage SEO techniques to appear legitimate in search results, deceiving even cautious consumers.Scammers ramp up fake coupon schemes, directing users to links that steal sensitive data under the guise of offering discounts. Spoofed shopping sites closely mimic legitimate ones, capturing users' login credentials as they hunt for deals. Account verification scams also spike, with fake alerts pushing shoppers to "confirm" suspicious login attempts through fraudulent links.Similarly, fake delivery notifications exploit high shipping traffic, tricking users with links to malicious sites disguised as shipment trackers. Fake order confirmations work the same way, luring recipients to click on deceptive links to address supposed erroneous orders. Not even mentioning the empty gift cards and fake charities where the consumers are being lured to.Despite growing awareness of ransomware and phishing risks among businesses and public entities, preparedness remains inconsistent. Larger organizations may have proactive defenses, but smaller entities often struggle with limited resources and the mistaken belief that they are less likely targets. This gap in readiness, coupled with reactive security budgeting, leaves many vulnerable during this heightened threat period.For instance, the recent "Phish n' Ships" campaign serves as a stark reminder of how swiftly attackers can capitalize on even the slightest vulnerabilities, much like a Formula 1 driver who deftly navigates a hairpin turn while competitors falter. Just as in racing, where split-second decisions and precision are critical, attackers exploit the lapses in monitoring and security resources that many businesses overlook. In this high-stakes competition, those without robust defenses can find themselves left in the dust, while cybercriminals zoom ahead, seizing opportunities before their targets even realize they're in a race.A strong defense against these seasonal cyberthreats requires multi-layered email security that uses AI/ML technology to detect suspicious emails and block phishing attempts. Crucially, Multi-Factor Authentication (MFA) and Zero Trust Access (ZTA) play vital roles in minimizing the damage if a breach occurs.Additionally, solutions that use behavioral analysis and immutable backups fortified with MFA provide resilience, enabling faster recovery in the event of a ransomware attack.Yet, many businesses make common missteps, such as lacking a well-practiced incident response plan or insufficient data visibility, which hinders timely detection and response. As attackers become more agile and can capitalize on these weaknesses, creating convincing storefronts that evade detection. Ensuring that data access is monitored in real time, combined with a robust incident response plan, can be instrumental in identifying anomalies and preventing significant damage.For both consumers and organizations, vigilance and proactive security are essential. A streamlined, automated protection service that integrates phishing and ransomware defenses with quick incident response can deliver both peace of mind and practical security. As cybercriminals adapt their methods to target this peak shopping period, it's vital that defenses adapt as well, providing straightforward and user-friendly options to improve cybersecurity management and thwart holiday-season threats.Irina Artioli is a cyber protection evangelist and a threat unit researcher at Acronis, a Swiss cybersecurity and data protection company that offers software and services for data protection, disaster recovery and secure data access.

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On BIR-issued subpoenas duces tecum
18.12.24 04:17
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On BIR-issued subpoenas duces tecum

A SUBPOENA is a vital tool used in the administration of justice and tax enforcement in the Philippines. A subpoena ad testificandum requires an individual to appear and testify at a hearing or trial, or for an investigation, while a subpoena duces tecum (SDT) requires a person to bring with him or her any books, documents or other things under his or her control.The Commissioner of Internal Revenue (CIR) is authorized to issue an SDT to compel the production of essential documents pursuant to Section 5(c) of the National Internal Revenue Code of 1997 (Tax Code). This provision empowers the CIR to summon the person liable for tax or required to file a return, or any officer or employee of such person, or any person having possession, custody or care of the books of accounts and other accounting records containing entries relating to the business of the person liable for tax, or any other.The SDT is generally issued after a letter of authority and authorizes the Bureau of Internal Revenue (BIR) to examine a taxpayer's books and records, and after said taxpayer shall have failed to comply with requests for production of documents. Three notices to comply are usually given by the BIR before it issues an SDT. Refusal or neglect to comply with an SDT has significant legal consequences, including potential criminal charges, administrative penalties and an alternative method of tax assessment.Under Section 266 of the Tax Code, any person who, being duly summoned to appear to testify, or to appear and produce books of accounts, records, memoranda or other papers, or to furnish information as required under the pertinent provisions of the Code, neglects to appear or to produce such books of accounts, records, memoranda or other papers, or to furnish such information, shall, upon conviction, be punished by a fine of not less than P5,000 but not more than P10,000 and suffer imprisonment of not less than a year but not more than two. Section 266 is violated if the following elements are present: the offender is duly summoned by the BIR, the offender is required to produce books and records, or testify as per the summons, and the offender neglects to comply with the summons.In Lo v. People, the Court of Tax Appeals (CTA) en banc ruled that failure to comply with an SDT under Section 266 of the Tax Code constituted a mala prohibita offense. Mala prohibita offenses are criminalized because they are prohibited by law and intent or moral wrongdoing is immaterial in such cases. Criminal intent or moral culpability is not required for the commission of the offense; the mere act of failing to comply with a summons is sufficient to establish a violation.In Ang v. People, the CTA ruled that good faith was not a valid defense in mala prohibita offenses and the taxpayer's claim of good faith for failing to comply with the SDT was rejected. The court emphasized that the law punishes the act itself, not the motives or intentions behind it. Therefore, noncompliance with an SDT is punishable irrespective of the t...

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