RSM Technology Monthly Alert - May 2022

IT Insights

SEC nearly doubles size of crypto and cyber enforcement unit

The US Securities and Exchange Commission (SEC) has doubled the size of its crypto-related enforcement unit. It will gain 20 additional team members, taking the unit's total headcount to 50. These additional roles will include fraud analysts, supervisors, investigative staff attorneys, and trial counsels, and are expected to focus on investigating violations related to crypto asset offerings, exchanges, lending and staking productions, as well as decentralized finance platforms, non-fungible tokens, and stablecoins.

Facebook plans to reduce hiring as revenue growth slows and inflation concerns increase

Facebook parent Meta is slowing the pace of hiring as it reckons with its weakest revenue growth on record and ongoing business challenges. CFO David Wehner highlighted several issues facing the company and said expenses for the year would be between $87 billion and $92 billion, down from a previous forecast of $90 billion to $95 billion.

NFT of Jack Dorsey's first tweet struggles to sell

Malaysia-based Sina Estavi, the buyer of a non-fungible token (NFT) of Twitter co-founder Jack Dorsey's first tweet says he "may never sell it" after receiving a series of low bids. He announced that the tweet was up for sale on NFT marketplace OpenSea and pledged to donate half the proceeds, which he estimated to be $25m or more, to US charity GiveDirectly. However, the highest bid was valued at $6,222.36.


System Updates

How to simplify recurring billing with NetSuite

More than 270 million people rely on Teams for hybrid work. 50 percent of organizations have standardized on Teams, according to a recent CIO survey. today, Microsoft has announced new product innovations designed to help make hybrid work.

Essential metrics and KPIs for procurement success

Companies can avoid many problems by standardizing the procurement process. Having the right metrics and key performance indicators (KPIs) in place is critical for success. NetSuite's SuiteAnalytics Workbooks make it possible to explore and visualize performance in unique ways. Customers can create pivot tables, prepare charts and graphs, access multilevel joins and perform other tasks entirely within NetSuite. SuiteAnalytics Procurement Workbook provides extensive reporting into purchase and spend activity.


Cybersecurity Announcements

New Meta information stealer was deployed in recent spam campaign

The new META malware has been discovered in a malspam campaign. META is being used to steal passwords and cryptocurrency wallets from Chrome, Firefox, and Edge. The infection chain uses the "standard" technique of sending a macro-laced Excel spreadsheet as an email attachment.

Attackers hijack UK NHS email accounts to steal Microsoft logins

More than 1,157 phishing emails sent from NHS email accounts in England and Scotland. Researchers tracked the fraudulent messages as coming from two NHS IP addresses. Phishing messages sent fake alerts for new document delivery that linked to fraudulent pages asking for Microsoft credentials. The U.K. agency has addressed the risk by switching from on-premise to cloud-based deployments, but this hasn't stopped the attacks.