Risky Business

Protect your business from one of the most sophisticated and costly cyber threats: Business Email Compromise (BEC) Scams.For more expert advice on commercial risk reduction and insurance, and to contact Butler Byers for the free BEC Scams Guide discussed in this podcast, visit their website: 🌐 https://butlerbyers.com/What is a BEC Scam? Commercial Risk Reduction Specialist Colin Rooke of Butler Byers joins Paul Martin to dispel the myths around 'cyber' and reveal what a cyberattack actually looks like for most businesses: a deliberate, targeted BEC scam. Learn why these criminals are not after your backups or credit card data, but are instead focused on key executives with access to company funds.In this episode, you will learn:Why the average successful BEC scam costs companies $4.9 million.How cybercriminals use your company's website, LinkedIn, and even AI to research and target a single person.Why top-level executives (CEO/CFO) are the most vulnerable targets.The surprising tactics criminals use to impersonate IT and attorneys to steal data and money.The bad guys are putting in the work, and so must you. Contact Butler Byers to get the quick-read guide (5-10 minutes) and learn how to recognize and repel these attacks.Host: Paul Martin, Business CommentatorGuest: Colin Rooke, Commercial Risk Reduction Specialist with Butler ByersPodcast: Risky Business Commercial Insurance with Butler Byers00:00 – Introduction & why BEC scams are exploding00:40 – What a Business Email Compromise scam looks like01:55 – Why BEC scams are harder to detect than ransomware03:20 – The psychology behind successful BEC attacks04:40 – Real-world examples of payment diversion fraud06:10 – Why traditional cyber defenses often fail07:25 – The role of social engineering in BEC losses08:45 – How criminals impersonate vendors and executives10:05 – The financial impact of a single successful BEC attack11:30 – Why banks often can’t recover stolen funds13:00 – Where cyber insurance responds — and where it doesn’t14:30 – Internal controls that reduce BEC exposure16:00 – Training staff to spot red flags17:15 – Final advice for businesses handling payments

Are you a business owner in Saskatchewan? There's new legislation you need to know about! In this episode of Risky Business Commercial Insurance, host Paul Martin is joined by commercial risk reduction specialist Colin Rooke of Butler Buyers, along with Grant Douziech and Sherry Timmerman from Apex Performance Consultants, to discuss the mandatory workplace violence policy and prevention plan.Since May 2024, every employer in Saskatchewan is required to have this plan in place under The Saskatchewan Employment Act. We dive into:The Mandate: Why the Saskatchewan government extended this protection to all employers and contractors, not just high-risk industries.The Insurance Angle: How having a proper plan implemented can help you secure better coverage and rates with your insurance provider, especially for employment practices liability.Employer Obligations: What the legislation requires, including investigation procedures for any violent incidents.Defining 'Violence': Understanding that it can include verbal threats and heated arguments, not just physical harm.Next Steps: Resources for businesses feeling overwhelmed and how experts can help implement the required policy and plan.Don't wait for litigation—get proactive about your risk management!Guests:Colin Rooke, Commercial Risk Reduction Specialist, Butler BuyersGrant Douziech, Apex Performance ConsultantsSherry Timmerman, Apex Performance Consultants00:00 – Introduction & why this issue is flying under the radar00:45 – What “workplace violence” actually includes (it’s broader than you think)02:10 – New Saskatchewan legislation explained03:55 – Why every employer is now required to comply05:10 – Industries that triggered the legislative change06:35 – Why most business owners don’t know this exists07:45 – The compliance gap facing small and mid-sized businesses09:10 – Insurance implications: employment practices liability10:45 – How insurers view businesses without a prevention plan12:05 – What a violence prevention plan must include13:30 – Incident reporting, investigations, and documentation15:05 – Real-world examples that qualify as workplace violence16:45 – How risk reduction strengthens your insurance position18:00 – Final takeaways for business owners

Ransomware is back—and it’s bigger than ever.2023 shattered records for cybercrime payouts, with attacks now happening 4,000 times a day in the U.S. alone. But here’s the twist: hackers aren’t just locking your systems anymore—they’re stealing your most sensitive data and threatening to leak it.In this episode of Risky Business, Paul Martin and Colin Rook dive into:Why ransomware spiked after a brief dip in 2022How criminals shifted from encryption to pure extortionThe shocking stats every business leader needs to know for 2024What small and mid-sized businesses can do right now to protect themselvesIf you think cyberattacks only happen to “the big guys”—think again.00:00 – Introduction & year-end cyber trends00:50 – Ransomware makes a major comeback02:10 – Why cybercriminals shifted away from AI-driven attacks03:20 – Ransomware payouts surge and success rates climb04:00 – Cybercrime as a for-profit industry05:30 – The shift from data encryption to data extortion06:55 – State-sponsored cybercrime and geopolitical ties07:45 – Why paying the ransom doesn’t protect you anymore09:15 – How cybercriminals are evolving their targets10:15 – Third-party vendors become the new weak point12:00 – Where cyber risk is heading in 2024–202513:25 – Why businesses need heavyweight cyber protection14:25 – How cyber insurance helps identify hidden threats16:15 – What small and mid-sized businesses can do now17:10 – 4,000 ransomware attacks per day: final warning👉 Learn how Butler Buyers can help protect your business: https://butlerbuyers.ca#CyberSecurity #Ransomware #SmallBusiness

Artificial intelligence is exploding into the workplace — boosting productivity, reshaping jobs, and raising serious new risks. In this episode of Risky Business with Butler Byers, Paul Martin and Colin Rooke break down:How AI will change the way we work in 2024 and beyondThe dangers of job insecurity and workforce unrestCyber threats you’ve probably overlooked — like QR codesWhy business leaders and insurers need to get ahead of AI’s risks now👉 Stay informed, stay protected, and prepare your business for the AI era.00:00 Intro  01:10 How AI Is Changing the Modern Workplace  03:16 AI Is Here to Stay  07:31 Productivity vs. Job Security  08:41 The Hidden Cyber Risks of AI  11:22 The Dangers of Unchecked AI Content  13:53 Preparing Your Workforce for AI  15:14 QR Codes The Cyber Threat You Missed  16:53 QR Codes in Your Living Room  17:34 Final Thoughts Staying Ahead of AI Risks