Show notes
John Barucci joins the show to break down his real-life data breach. John thought he had all the right safeguards in place: cyber insurance, firewalls, security training, and a written information security plan. But a single click on what appeared to be a Social Security Administration email led to bad actors accessing nine client files, altering returns, and changing bank account information in just 38 minutes.SponsorsPadgett - Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Chapters(00:00) - Introduction and Greetings(00:41) - Current Events and Government Shutdown(01:41) - PTIN Renewal and Security Measures(02:44) - Introducing John Bucci's Story(04:19) - John Bucci's Cybersecurity Breach Experience(06:03) - Detailed Chronology of the Breach(18:23) - Immediate Actions Taken Post-Breach(21:59) - IRS and Software Company Responses(26:00) - Client Communication and Further Steps(29:32) - The Weight of Responsibility in Tax Practice(30:20) - The Importance of Having a Plan(31:26) - Immediate Actions Post-Breach(31:51) - Involvement of Thomson Reuters and Stopping the Breach(33:19) - Forensic Investigation and Legal Steps(34:46) - Cyber Insurance and Its Benefits(36:48) - IRS Practitioner Relief Program(42:25) - Final Reflections and Lessons Learned(49:00) - Conclusion and Final ThoughtsFollow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with John: https://www.linkedin.com/in/johnbarucciConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.