FBI: Beware fake CEO emails that have cost businesses 2.3bn

ZDNet

Beware of unexpected emails from the CEO asking for fund transfers. The FBI is warning businesses to be extra cautious of fake CEO email requests for wire transfers after a massive rise in victims over the past year. The FBI says it has seen a 270 percent increase in identified victims of so-called'business email compromise' since January 2015. This usually involves spoofing the email account of a senior exec, such as the CEO of a company, and tricking a financial officer to wire funds to an overseas bank account, often purported to be that of a trusted vendor. The FBI has previously warned the attackers carefully study their targets' business habits and usually pick companies that have international suppliers.


UBS uses predictive analytics to manage its travel spend

#artificialintelligence

Swiss bank UBS is using software to help it improve how it forecasts the costs associated with business travel. Through an automated system from PredictX โ€“ previously Pi Travel โ€“ the organisation will use artificial intelligence to analyse spending and activity data from previous trips to help it make better budgetary decisions. The system is also expected to improve UBS's position when negotiating with travel service suppliers. Discover what buyers are telling us about their next business process management buy, including top purchase drivers, top features and the top vendors being considered for purchase. You forgot to provide an Email Address. This email address doesn't appear to be valid. This email address is already registered. Please login. You have exceeded the maximum character limit. Please provide a Corporate E-mail Address. By submitting my Email address I confirm that I have read and accepted the Terms of Use and Declaration of Consent. By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy. The PredictX platform will analyse five years of travel data, including travel costs and credit card spending, from across the company to predict future travel costs. Previously, the bank had to bring data together manually from various systems, some of which were external, in order to apply business intelligence to it. As a result, reports on spending were eight weeks old when management received them. UBS is a global bank and its staff travel regularly, so it can make huge savings by managing costs effectively. "For us, accurate and transparent data analytics is mission critical, especially in a high-spend category such as travel," said Mark Cuschieri, global travel lead at UBS. "Previously, it was impossible for our category managers to make proactive, vital business decisions on future spending. Typically, we were receiving static reports on trip spend eight weeks post-event. "Slow data consolidation and single-layer reporting just couldn't provide the insight needed โ€“ and certainly not in a way that would support our new global travel strategy and business requirements." Cuscheri added that the ability to predict costs and behaviour helps the bank negotiate better deals with its travel service providers. "Additional benefits of the predictive analytics platform include being able to have better informed negotiations with suppliers," he said. "Complete and unequivocal historic spend data allows for accurate predictions of likely future spend, allowing mutually beneficial rates to be agreed."


UBS uses predictive analytics to manage its travel spend

#artificialintelligence

Swiss bank UBS is using software to help it improve how it forecasts the costs associated with business travel.


Alto uses your emails to clean up your calendar

Engadget

Smartphones are an absolute godsend for organizing... well, pretty much everything. Yet despite all they do for us, it can still be hugely frustrating when your various calendar apps don't play nicely with each other. AOL (Engadget's parent company, for full disclosure) is trying to solve this headache with the latest update for its Mail tool, Alto. For the uninitiated, Alto is an iOS and Android app that combines all your calendar appointments and email accounts into one tap-able hub. While it's it looks like AOL is addressing a few of them in its latest update.


Comey draft statement on Clinton emails called her actions 'grossly negligent,' new memos show

FOX News

Retired lieutenant detective Steve Rogers explains on'Fox & Friends First.' Newly reported memos to Congress released Monday showed that language was softened between an early draft and the final copy of former FBI Director James Comey's statement closing out the Hillary Clinton email case. Originally Comey accused the former secretary of state of being "grossly negligent" in handling classified information in a draft dated May 2, 2016, but that was modified to claim that Clinton had been "extremely careless" in a draft dated June 10, 2016. Comey stuck to that modified language when he announced in July 2016 that there would be no charges against Clinton. Federal law states that gross negligence in handling the nation's intelligence can be punished criminally with prison time or fines, according to The Hill, which first reported on the memos. "There is evidence to support a conclusion that Secretary Clinton, and others, used the email server in a manner that was grossly negligent with respect to the handling of classified information," one of Comey's earliest drafts states.