Monthly Archives: September 2017
We are pleased to announce that Junior Achievement of Southern California selected Leon Woods, VP and portfolio manager in our L.A Region, as its 2017 Volunteer of the Year! It is because of dedicated volunteers like Leon that Junior Achievement is able to fulfill its mission to help students understand the importance of managing their money, planning for their future, and becoming active leaders in their future careers and communities.
Last year, we wrote on our blog about the many volunteers from our bank who participated with 120 high school juniors and seniors of Lennox Academy as they made their way through Junior Achievement’s Finance Park program. With their “adult for a day” duties, we helped the students learn about the world of personal finance through simulation exercises involving financial concepts like banking, budgets, careers, credit, debt, interest rates, income, investments and taxes.
When Leon was honored at Junior Achievement of SoCal‘s Annual Meeting, the organization’s leadership noted Leon’s exceptional ability to engage with the kids at Finance Park and help them understand the empowering opportunity they had to learn about personal and business financial skills.
“I feel like it’s a homerun,” says Leon, “if I get through to these kids so they can also extend what they’ve learned to their peers, their siblings and maybe even their parents.”
Congratulations, Leon, for your dedication in motivating and empowering young people to learn how to develop and own their economic success.
“Hackers have breached half of the 28 million small businesses in the United States, according to the 2016 State of SMB Cybersecurity Report,” says a recently-released CNBC/SurveyMonkey Small Business Survey article about cyber security.
Through a survey of 2,000 small business owners across the nation conducted in April, the CNBC/Survey Monkey team found that only two percent of small business owners surveyed saw cyber security as “the most critical issue they face.”
Many business owners are more concerned about personnel, competition or benefits issues, but the resulting lack of focus on cyber security, combined with an attitude of ‘we’re too small to be targeted,’ may make these businesses more vulnerable to cyberattack, the article stated.
The article also cited Hemu Nigam, founder of SSP Blue, an internet security consulting business, and the former vice president of internet enforcement at the Motion Picture Association of America, who said, “Hackers love small businesses [because] they don’t have the resources to put in high-end cybersecurity protection and they may not be consciously aware they are a target.”
The cost of not having a high-end cybersecurity protection system can be high as well. For a retailer, a credit card data breach can range from “$200 per transaction to $395 per transaction” to respond adequately to the breach, according to the report.
Cyberattacks against businesses can come in many forms (we suggest reading through our blog archives to learn more about these types of attacks and defensive steps to take). The CNBC/SurveyMonkey article’s authors recommend the following precautionary measures:
- Use large service providers like WordPress and Gmail for your company’s website and email since they already have complex protection systems built in.
- Refrain from checking personal accounts from a company computer.
- Use a cloud-based service rather than keeping your information local.
More information about the CNBC/Survey Monkey Small Business Survey can be found at the CNBC web page on the tech/cybersecurity page.
(Promoting cybersecurity best practices, Grandpoint Bank recommends against clicking links provided by second-hand parties and chooses instead to provide written directions about how to find material we reference on our blog.)
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