True Crime - Sophisticated Sting, BEC and Missing Millions
This is a true story about BEC, fake fancy hotel, 6-month dwell time, and missing millions. How a wealthy CEO fell victim to a criminal campaign operated in two countries. This Hollywood movie style story will sound unbelievable until you realise that even decent size organisations can fail in areas of culture, governance, policies, and lack of controls. The lessons learned are stunningly simple, but a good reminder that very simple can also be extremely effective.
Richard Magalad is a 30 year veteran of the ICT industry starting at the State Bank Victoria (Commonwealth Bank) where he received world-class training on Oracle, COBOL, NEC, IBM, Unisys and many other enterprise vendors.
He was a 10-year IT director from 2010 working at a mining company with uranium, gold and diamond projects in Australia, Laos and Canada.
Current projects are systems integration for two of the large Telcos, several agencies in Federal Government and he is also active in providing strategic IT and cyber advice for the SMB market.
He was in national congress and an executive committee member at the Australia Computer Society until 2020.
He is the chairperson of Cloud branch for Australian Information Security Association from 2022.