PASBO SUMMER PARTNERSHIP WEB FORUMfile2.pasbo.org/Summer Partnership Web Forum.pdf · PASBO SUMMER...
29
PASBO SUMMER PARTNERSHIP WEB FORUM AUGUST 17, 2017
-
Upload
duongthien -
Category
Documents
-
view
221 -
download
0
Transcript of PASBO SUMMER PARTNERSHIP WEB FORUMfile2.pasbo.org/Summer Partnership Web Forum.pdf · PASBO SUMMER...
PASBO SUMMER PARTNERSHIP WEB FORUMAUGUST 17, 2017
www.pasbo.org
PASBO Strategic Plan
www.pasbo.org
3
PROFESSIONAL DEVELOPMENT PRIORITIES
www.pasbo.org
PROFESSIONAL DEVELOPMENT PRIORITIES
4
www.pasbo.org
LEADERSHIP DEVELOPMENT PRIORITIES
5
www.pasbo.org
REGIONAL CHAPTER PRIORITIES
6
www.pasbo.org
ADVOCACY PRIORITIES
7
www.pasbo.org
State Budget Update
www.pasbo.org
STILL AT A STANDSTILL…
Senate passed Revenue Code, School Code, Fiscal Code, Welfare Code and Administrative Code
House has indicated major concerns with revenue plan and with some other components of the proposal
9
www.pasbo.org
SENATE SCHOOL CODE BILL HIGHLIGHTS
Tweaks the BEF formula slightly
Economic Furloughs/LIFO
Prohibits “lunch shaming”
School security drills
Superintendent contracts
School board training
Financial recovery “light”
PlanCon moratorium
NO increase for EITC/OSTC10
www.pasbo.org
SENATE FISCAL CODE BILL HIGHLIGHTS
PlanCon Advisory Committee report deadline extended to October 31, 2017
Extends deadline to award bids to July 1, 2021 for projects already in the pipeline
11
www.pasbo.org
WHAT HAPPENS NOW?
August subsidy unaffected—need to revisit monthly as impasse stretches on
House and Senate on different pages with revenue plan, so agreements must be made before things can proceed
Unclear when legislature will return to Harrisburg
Stay tuned for more!12
www.pasbo.org
PSDLAF
PSDLAF 2101 Oregon Pike
Lancaster, PA 17601Tel: 1-866-548-8634 (option 2)
E-mail: [email protected]
PSDLAF is sponsored by:
www.psdlaf.org
How Safe Are Your Investments:Protecting Public Funds
in the Cyber Age
Myth vs. Reality
Myth Reality
1. The bank will reimburse any funds lost due to cyber fraud
Not if the bank follows online security procedures and offer Fraud Prevention
Services
2. Monthly reconciliation is sufficient time to notify bank
The bank needs 24 hours to return/reject fraudulent item
3. FDIC Insurance covers fraud FDIC only insures deposits against bank failures
4. This won’t happen to us It hasn’t happened yet
15
Common Red Flags
Sense of urgency – Pay Now! Act Now!
Sender can’t be contacted
Very Formal
Requests for personal/account information
Link requesting account information updates
Misspelled or redirected URL/words
16
User Name Password SSN, etc.
What is it?An online scam where individuals are deceived into transferring
money/information to cyber criminals, believing they are acting on requests from a trusted source.
Per the FBI, techniques include online tactics such as: spear-phishing social engineering identity theft e-mail spoofing the use of malware
Business Email Compromise (BEC)
17
How does it work?Spear-phishing
Fraudsters gather information on potential victims and send emails seemingly from organizations or individuals that they would normally receive emails from
Information can be gathered by hacking network or simply scanning organization’s websites and individual’s social media pages
Email & Website Spoofing Example: [email protected] vs. [email protected] Example: www.google.com vs. www.goooogle.com
Malware Viruses, spyware or other unwanted software that unknowingly gets installed on your device Examples:
Ransomware (Petya) Trojan Horse Key Logger
Business Email Compromise (BEC)
18
How do you prevent it?Don’t just rely on email. Verify requests in person or over the
phone.
When in doubt, call. Use saved phone numbers, the one in the email could also be compromised.
Don’t click on links in an email. Enter the website URL manually.
Limit information on Social Media. Utilize privacy settings so only friends and colleagues can view your information. Too many friends may be an issue
Regularly back up and test information on a secure server
Business Email Compromise (BEC)
19
Fake Invoices
What is it?A scam where fraudsters send fraudulent invoices for valid expenses
How does it work?Fake invoices are sent to individuals via email or USPS that have incorrect payment instructions.
How do you prevent it?Verify invoices in person (if possible) or over the phone before processing. Always confirm payment instructions are correct
20
Check Fraud
21
What is it?The theft of funds through counterfeiting or altering of checks
How does it work?Checks are created through computer graphic software that mimic organization’s checks
How do you prevent it? Strong Internal Controls: Protect Confidential Information (Routing
Numbers, Account Numbers and Physical Checks) Positive Pay: strongest line of defense
ACH Fraud
What is it?The theft of funds through the Automated Clearing House transaction network
How does it work?Account and ABA numbers are used to purchase goods and services or credit another account
How do you prevent it? Strong Internal Controls: Protect Confidential Information (Routing
Numbers, Account Numbers and Physical Checks) Positive Pay: strongest line of defense
22
Wire Fraud
What is it?The theft of funds that occur via wire transactions
How does it work?Wire fraud is usually accomplished through: Phishing attacks Email & Website Spoofing Malware
Examples: The Nigerian Prince Urgent Account Update
23
24
Wire Fraud
How do you prevent it?Use Multi-Factor Authentication
Do not share banking information with unauthorized personnel
No Free Form wires – only allow authorized wire instructions available online
If system permits Free Form wires: Dual Controls Call Back Verification 24 Hour Aging Period
Recap
Ensure Protection of Public Fund Deposits
Identify and Neutralize Areas of Weakness
This presentation is for educational purposes only. This does not purport to be a complete statement of all material facts relating to securities mentioned. The information contained, while not guaranteed as to accuracy or completeness, has been obtained from sources, which we believe to be reliable. Opinions expressed herein are subject to change without notice. This notice shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which said offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state. Please refer to the PSDLAF Information Statement for any questions at www.psdlaf.org.
25
www.pasbo.org
INNOVU
www.pasbo.org
Break
www.pasbo.org
FORECAST5
www.pasbo.org
QUESTIONS & ANSWERS
Thank you for your time and attention!
