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You are likely unfamiliar with the plight of Frank Krasovec – it got very little traction.
He is hardly a household name. Frank Krasovec serves as the chair of Dash Brands Ltd. The privately held firm owns Domino's Pizza franchises in China.
Krasovec was the victim of financial fraud costing him nearly half a million dollars. According to a recent report in The Wall Street Journal, he was the perfect victim.
The short version: Krasovec took on a $1 million personal line of credit from a local bank in 2018. He went on a business trip a few months later.
When he got back, he was stunned to learn that $450,000 of his money had vanished. Hackers had used his e-mail address to get an unsuspecting employee to send them that amount by wire transfer.
I'm bringing this up now because often in times of crisis, hackers get to work. We may see them coming at us with phishing e-mails seeking donations to help those stricken with the virus when, in reality, they want to rob us blind.
The privately held cybersecurity company, Agari, issued a warning in late 2018 about California wildfire e-mail scams. The emails purported to come from corporate executives asking employees to make donations, which were actually intended to fatten the bank accounts of hackers.
In other words – you should also be extra cautious about your online presence, especially your e-mails and credit card accounts.
There's also an incredible opportunity here for cybersecurity. This marks a moment for the sector to become even more vital to our existence now that millions have shifted their lives online.
For investors… there's a way to cover the entire waterfront of this sector with one single investment, set to outperform the market for years to come… Full Story