Upping Your Tech Game in Times of Extraordinary Change

In the session titled “Upping Your Tech Game in Times of Extraordinary Change” at the 2021 ACFE Women’s Summit, attendees heard from four tech experts in the anti-fraud field. As the conversation began, a few of the panelists commented on how rare (and delightful) it was to be on a tech panel with all women. However, it didn’t take long for them to dig in and demonstrate why they are each considered experts in their respective fields.

How technology is influencing the threat landscape
The panel was moderated by Amber Mac, author, TV/radio host, and internet of things expert, and she asked the panelists to share how technology is significantly influencing the threat landscape and changing the way organizations defend against fraud right now.

Amy Chang, executive director of cybersecurity and technology controls with JPMorgan Chase & Co, noted that while the growing reliance on completely digital solutions has been necessary over the past year, it presents a slew of unique challenges. As financial institutions and services move away from usernames and passwords, or even account numbers, fraudsters are able to adapt more quickly and slip through unknown cracks. “As soon as we advance in our defenses, the threat actors are speaking freely and they’re collaborating and they’re sharing and selling sensitive information,” Chang said. “And they can do it with more impunity because we are bound by our legal compliance and regulatory mandates.”

She highlighted the recent example of the SolarWinds breach, where cybercriminals infiltrated a vendor and used that access to work their way up the supply chain to integral systems within the U.S. Departments of State, Commerce, Homeland Security and the Treasury, among other vital entities.  

Chang concluded her response by saying that, “The ease with how criminals can get into a network or a person’s account evidences and showcases just how far that bar has been lowered for entry.” And as the SolarWinds breach demonstrates, it’s not just large organizations like JPMorgan Chase & Co that are being targeted.

Amber Schroader, CEO and founder of Paraben Corporation, built on that idea. “The biggest thing I’m seeing is that so many more transactions are being done almost exclusively electronically ... I joke about Venmo and the emergence of that, but I’m seeing different generations come in.” This has a notable implication for fraud investigations. Schroader explained to attendees that you shouldn’t look at someone from one generation and expect to analyze their data the way you would with someone from a different generation. “I have a totally different perspective on it than my kids do,” Schroader continued, “and it’s changed the way I look at it in investigation and the types of data I’m looking for based on the age of the person I’m investigating. That’s changed even more so now that everyone is remote.”

To round out Chang’s and Schroader’s thoughts, the founder and president of Hetherington Group, Cynthia Hetherington, CFE, brought it back to what’s at the core of all technology — people. “This is the truth of it. I get to meet Amy, and Amy meets me. We both know and respect [each other] because we’re both part of the ACFE … so what happens? We communicate.”

As technology continues its rapid evolution, as the threat landscape becomes more and more complex, communication between peers will be more vital than ever.

The challenges women face in the tech industry (or any industry)
During the session, Mac said, “We all have tech challenges. The more tech savvy you are, the more challenges you have because the more you push the boundaries of what’s possible. You never get to the point where you’re totally comfortable.” As Mac opened up the floor for audience questions, a common theme emerged — challenges women face in a male-dominated industry. One attendee asked, “Can you talk about imposter syndrome?”

Chang didn’t hesitate with her response. “When I talk to a lot of peers, when I talk to other women in the industry … there’s always the topic of imposter syndrome. One thing that I want to debunk for you is that it’s a made-up thing.” The other panelists chuckled at this notion. After all, the topic came up in almost every single session throughout the day, not just the tech panel. But Chang drove her point home. “No one comes into any job thinking that they know what they’re doing. That’s why you learn. No one comes in and knows how to CEO … you need to recognize that you do belong where you’re working, and you do contribute a lot of value. We need to find more female mentors to be able to empower that feeling of ownership, authority and agency.”

(If this were an in-person event, this is absolutely the moment where attendees would burst into spontaneous applause.)

Reframing intimidation
Mac finished up the live Q&A session by posing this question to each of the panelists: “What technology do you find intimidating, or what area of tech do you still find a little intimidating?”

Chang urged attendees to consider reframing the word “intimidating” and to see it instead as an opportunity to learn. “For me,” she said, “it would be data, cloud and artificial intelligence or machine learning … There are so many questions that are yet to be answered from an application-of-technology standpoint. How to implement it in your own organization all the way down to the policy implications, ethical and moral implications. I think those are all very interesting aspects of technology.” By reframing something intimidating as an opportunity, you can approach it with a positive, problem-solving mentality, rather than allowing your fear to hold you back.

Schroader had a specific answer for this, too. “Probably the cloud. The way you overcome that is if you think about the cloud and you realize it’s really just someone else’s computer. It kind of takes that intimidation away.”

Closing out the session with her typical, sharp-witted humor, Hetherington told attendees that she had just acquired a building that came with a very involved, very complex espresso machine. “It’s like the size of a desk,” she emphasized, “and I’m completely intimidated by it.” At first she thought, “Well this is great! I’ll have coffee.” But after her initial excitement, she realized she would actually have to figure out how to use it. Instead of walking away from delicious coffee, she decided to view it as an opportunity and learned how to make the fancy espresso. “It’s all gadgets, bits, binary numbers and machine language underneath it all,” she said. “It’s just a matter of are you ready to dive in and break it and then rebuild it.”