Cybersecurity breaches cost American businesses and taxpayers close to $7 billion in losses, according to recently released FBI reports. A vast majority of phishing, hacking, and cybercriminal attacks target small to medium-sized businesses, leeching thousands out of the economy with every hit.
Because of these hefty losses, many companies now realize the importance of having an increased focus on cybersecurity initiatives. However, those businesses that contract with the federal government have even more responsibility to invest in and enact meaningful data security measures. The Department of Justice's Civil Cyber-Fraud Initiative is in place to ensure that no business that receives government funding misreports or otherwise misrepresents its compliance with cybersecurity protocols. What is more, reporting cybersecurity fraud can win cybersecurity whistleblowers significant financial rewards in exchange for their bravery and honesty.
Effective cybersecurity measures can be costly for a company, but they are a crucial investment. The following are common ways that government contractors may commit cybersecurity fraud. All of these are reportable in exchange for a possible reward:
The Civil Cyber-Fraud...
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