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Download the Webster Bank Cyber Fraud Index here

We asked C-Suite leaders…What are the biggest cyber fraud risks facing your organization?

In their answers, common themes emerged: third-party risks, phishing, social engineering and ransomware. Artificial intelligence was also mentioned as a growing risk.

“Recently, largest risks appear to be with effective identity management, as well as third-party risk for subcontractors.”

“The phishing emails to the finance people pretending to be their bosses asking to transfer money.”

“Customer data loss, reputation loss, ransomware attacks, service disruption.”

Top Cyber Fraud Concerns

The executives we surveyed are most concerned with phishing, ransomware and the theft of their customers’ data. Theft of organization data and malware were also top concerns.

88%: Phishing85%: Ransomware77%: The theft of our customers’ data77%: Theft of org’s data74%: Malware

The Impact

91%: Your company’s reputation 

59%: Very concerned32%: Concerned

89%: Your customers’ trust

56%: Very concerned33%: Concerned

81%: Your company’s operations

39%: Very concerned42%: Concerned

80%:Your financial losses

44%: Very concerned36%: Concerned

69%: Your Employees

21%: Very concerned48%: Concerned

54%: Your relationship with your vendors/suppliers

21%: Very concerned33%: Concerned

Top Concerns About Cyber Fraud’s Impact

We asked executives what they were most concerned with in terms of the impact of cyber fraud. Many were worried about their company’s reputation and customer trust.

Cybersecurity Statements

When asked to choose from various statements related to cybersecurity and cyber fraud, many C-Suite leaders said they had cybersecurity plans, but still worried about risks.

Statements

91%: Our organization has a clear plan for mitigating cybersecurity issues.85%: I worry about our suppliers and vendors exposing us to cybersecurity issues.72%: Cybersecurity and cyber fraud issues keep me up at night.

Note that while few executives feel that cybersecurity issues are out of their control, more than half don’t think their cybersecurity budget is adequate.

55%: Our cybersecurity budget is adequate.12%: Cybersecurity issues are outside of my control.

Cyber Fraud Incidence

63% of executives we surveyed reported experiencing cyber fraud one or more times in the past two years.

3%: 10+ Times3%: 6-9 Times6%: 4-5 Times21%: Once29%: 2-3 Times37%: Never

Losses

51% of respondents reported losses between $10,000 and $500,000 from their most significant cyber fraud incident, while 11% reported losses exceeding $1 Million.

Protection Measures Taken Organizationally

Two-factor authentication and firewalls are the most common cybersecurity approaches taken. Only half of respondents have established an advisory council to address cyber fraud issues.

What are the most valuable steps your organization has taken to prevent or minimize cyber fraud?

Many answered with training and education for their employees, as well as using third-party vendors — despite many being concerned by third-party risks. Multifactor authentication (MFA) and zero-trust architecture were also frequently mentioned.

“Launch of company-wide training on cybersecurity, which is mandatory for all employees.”

“Using zero-trust architecture…has forced a process of verification and authentication based on behaviors and triggers.”

“Third-party software to prevent cyber risks.”

Protection Measures Taken for Employees

Almost all executives restrict employee access to data and information, and require passwords and regular password changes. 3 out of 4 have hired employees who focus on cybersecurity.

Protection Measures

76%: Hired ee(s) to focus on cybersecurity78%: Require ee’s to log into VPN when remote89%: Require regular security training89%: Require ees to change password regularly93%: Require ee’s to use passwords to access data94%: Limited employee access to data & info

Organizational Protection Measures

96%: Instituted two-factor authentication94%: Installed firewall for computer systems87%: Created critical incident/disaster recovery plan82%: Purchased cybersecurity insurance65%: Signed up for online security monitoring61%: Invested in fraud protection software52%: Formed cybersecurity advisory council

Protection Measures Taken Organizationally

Two-factor authentication and firewalls are the most common cybersecurity approaches taken. Only half of respondents have established an advisory council to address cyber fraud issues.

Get a C‑suite view of cyber fraud; download the Webster Bank Cyber Fraud Index here.

Eastman

PARIS — The versatility of Eastman Naia™ Renew staple fiber was spotlighted at Première Vision Paris in mid-February. The curated display featured a diverse array of fabrics and garments developed in collaboration with various partners and brands.

Visitors explored Naia™ Renew collections showcasing the fiber’s sustainability and ability to enhance both performance and aesthetic appeal across a variety of applications, including woven, knitted and blended fabrics. These styles offer performance benefits such as durability, quick-drying properties, skin-friendly softness and superior comfort.

“Première Vision Paris provided a key platform for Eastman Naia™ to connect with designers, brands and innovators,” said Ruth Farrell, general manager of Eastman’s textiles division. “We welcomed the opportunity to share the responsible vision of Naia™ to create sustainable style for everyone.”

Farrell participated in a panel discussion, “How savoir-faire is reinventing the living world,” that explored innovative, bioengineered and biobased materials. Panelists discussed lab-grown alternatives reshaping fashion’s relationship with nature.

“The potential of Naia™ fibers is already inspiring brands worldwide,” Farrell said. “This is evident in the numerous commercial garments and market-ready applications that were on display, showcasing how Naia™ has become a staple in shops and wardrobes everywhere.”

Naia™ Renew partners with leading European mills that were also highlighted at Première Vision Paris. These mills bring advanced textile expertise and sustainability initiatives to the table.

“These collaborations support the shift toward nearshoring,” Farrell explained. “This approach helps reduce lead times, streamline logistics and minimize transportation-related emissions, ultimately lowering the overall environmental footprint. Furthermore, these partnerships ensure Naia™ Renew staple fibers are integrated into high-quality fabrics that meet the demands of today’s fashion industry, paving the way for a more sustainable future.”

Two featured partners at Première Vision included Riopele from Portugal and Pakipek from Turkey. Riopele has adopted Naia™ Renew fiber to create sustainable spun yarns and high-performance fabrics, while Pakipek integrates the fiber into its environmentally responsible womenswear textiles.

“This partnership with Eastman represents a significant milestone in our commitment to sustainability,” said Angela Telles, product manager from Riopele. “It demonstrates how companies from diverse backgrounds can collaborate to create a more circular future.” 

“Through our collaboration with Eastman, Pakipek utilizes acetate yarn to produce staple fiber products that offer exceptional softness and enhanced sustainability,” said Serkan Bükümcü board member of Pakipek. “This innovative blend delivers superior comfort while supporting eco-friendly practices. We take pride in contributing to a more sustainable future for a better world.”

About Eastman

Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. The company’s innovation-driven growth model takes advantage of world-class technology platforms, deep customer engagement, and differentiated application development to grow its leading positions in attractive end markets such as transportation, building and construction, and consumables. As a globally inclusive company, Eastman employs approximately 14,000 people around the world and serves customers in more than 100 countries. The company had 2024 revenue of approximately $9.4 billion and is headquartered in Kingsport, Tennessee, USA. For more information, visit www.eastman.com.

Media contact

Menabò Group, Naia™ press support 
1-212-835-1620 
pressoffice@menabo.com

PSEG NewsRoom

NEWARK, N.J., March 5, 2025 /3BL/ – PSE&G’s latest Clean Energy Future Energy Efficiency (CEF-EE) report, covering program results from program implementation through September 30, 2024, highlight the program’s continued success in helping customers lower energy costs and reduce their carbon footprint.

Approximately 1.9 million customers have benefited from PSE&G’s energy-saving offerings tools, receiving valuable insights through energy usage reports, with more than 415,000 taking action through participation in energy efficiency initiatives, collectively saving nearly $640 million annuallyi on their utility bills.

Participating customers have benefited from more than 80,000 home energy assessmentsii, over 107,000 rebates for energy-efficient appliances, over 21,000 appliances recycled and approximately 320,000 smart thermostat purchases through the PSE&G Marketplace. These measures have contributed to significant energy savings and support New Jersey’s clean energy goals.

PSE&G’s energy efficiency programs for businesses also continue to provide value. To date, these programs have helped more than 14,500 New Jersey businesses implement or enhance energy efficiency measures, resulting in the completion of over 22,000 projects. Specifically, more than 1,300 small businesses have participated in the Small Business Direct Install Programiii and are projected to save approximately $18 million annuallyiv in energy costs.

Electric customers are projected to save approximately 2.5 million megawatt-hours annually—enough to power nearly 360,000 New Jersey homesv each year—while natural gas customers are anticipated to save over 64 million therms per year. Overall, the program is expected to avoid approximately 1.8 million metric tons of carbon dioxide emissions annuallyvi, equivalent to removing 400,000 gasoline-powered vehicles from the roadvii.

As part of its broader clean energy efforts, PSE&G remains focused on workforce development. Through the Clean Energy Jobs Program, more than 2,700 individuals have been placed in clean energy roles, helping to build a skilled workforce that supports both economic and environmental progress in New Jersey.

Additionally, PSE&G’s energy efficiency programs continue to garner industry awards, being recognized for excellence and winning nearly 60 awards over the years for achievements in program effectiveness and, workforce development and marketing, including the 2024 ENERGY STAR® Partner of the Year Award for Sustained Excellence.

For more information on PSE&G’s energy efficiency programs, visit homeenergy.pseg.com for residential customers or bizsave.pseg.com for business customers.

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PSE&G

Public Service Electric & Gas Co. is New Jersey’s oldest and largest gas and electric delivery public utility, as well as one of the nation’s largest utilities. PSE&G has won the ReliabilityOne® Award for superior electric system reliability in the Mid-Atlantic region for 23 consecutive years. For the third consecutive year, PSE&G is the recipient of the ENERGY STAR Partner of the Year award in the Energy Efficiency Program Delivery category. In addition, in 2024 J.D. Power named PSE&G number one in customer satisfaction with residential electric service and gas service in the east among large utilities. PSE&G is a subsidiary of Public Service Enterprise Group Inc., (PSEG) (NYSE:PEG), a predominantly regulated infrastructure company focused on a clean energy future and has been named to the Dow Jones Sustainability Index for North America for 17 consecutive years (www.pseg.com).

Forward-Looking Statements

This release includes forward-looking statements, including but not limited to statements regarding anticipated or expected energy savings, cost saving and greenhouse gas emissions avoidance. There can be no assurance that such energy and costs savings and greenhouse gas emissions avoidance will be realized in the amounts described and / or in the timeframes anticipated. Such statements are based on management’s beliefs as well as assumptions made by and information currently available to management but are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Factors that may cause actual results to differ include, without limitation: the ability to implement our energy efficiency business strategy, and customer adoption of our energy efficiency offerings. All forward-looking statements made in this release are qualified by these cautionary statements and readers are cautioned not to place undue reliance on these forward-looking statements The forward-looking statements contained in this Report are intended to qualify for the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Contact:

Media Relations
Anide Eustache
1-862-370-5500

i Retail bill savings are based on rate class averages for residential and small commercial customers.

ii Home energy audit includes: Home Performance with ENERGY STAR® (HPwES), Home Weatherization Program and Quick Home Energy Check-up (QHEC).

iii The PSE&G Small Business Direct Install Program is designed to deliver comprehensive, cost-effective, energy efficiency equipment for eligible PSE&G business customers, with 12-month individual facility electricity average peak demand usage of less than 200 kW.

iv Retail bill savings are based on rate class averages for small commercial customers.

v Based on the median annual consumption of PSE&G’s residential customers.

vi Carbon dioxide savings for electricity are based on EPA eGRID marginal emission rates for the eastern RFC region.

vii Vehicle equivalency is based on EPA conversion factors.

The following is an excerpt from our FY24 Purpose Report, celebrating 40 years of impact at Cisco.

Much of our digital economy relies on large, energy intensive data centers that need to be operational 24/7 and require cooling systems to prevent overheating—and the growth of AI is increasing this demand. We believe the IT industry needs to stay one step ahead of this technological shift so sustainability is not an afterthought.

Large, global companies like Cisco have a critical role to play in balancing the demand for AI and digitalization with improvements in energy efficiency. This includes modernizing data centers, adopting energy management solutions that provide real-time energy usage insights, building a smart and resilient energy grid, and accelerating the transition to clean energy. Cisco prioritizes these efforts within our environmental sustainability strategy, The Plan for Possible, and we continue to advance our work in these areas as adoption of AI evolves.

At Cisco, smart energy consumption is a core element of our Circular Design Principles, and we are working to increase the energy efficiency of our products. For example, the Cisco UCS X-Series Modular System, which provides computing power for modern, AI-ready data centers, has been designed to improve energy efficiency and cooling when compared with previous UCS rack server releases. Cisco UCS X-Series is 54% more energy efficient at the processing (CPU) level than previous generations. And it is managed through the Cisco Intersight IT operations platform, which enables customers to dynamically adjust power for better efficiency.

As technology evolves rapidly, staying informed about the environmental performance of the latest devices and solutions can be challenging. For many years, Cisco has used voluntary third-party ecolabels, such as ENERGY STAR® and Electronic Product Environmental Assessment Tool, to indicate when certain products meet energy efficiency criteria and other environmental and social criteria associated with product design and our corporate Purpose.

In fiscal 2024, several of our Catalyst 9000 switches received ENERGY STAR certification in the Large Network Equipment category, empowering our customers to choose solutions that align with their own sustainability goals and can help reduce their environmental footprint while maintaining performance in their technology infrastructure. Cisco is one of the first companies to have ENERGY STAR-certified products in this category.

Having reliable environmental sustainability-related data, such as product energy consumption and product life cycle emissions, is important for many reasons. For example, it helps our customers better understand the environmental footprint of their networks and report their environmental impact.

To address this need, Cisco developed the Sustainability Data Foundation (SDF), an internal enterprise data platform that serves as our main source for environmental sustainability-related data for a range of use cases.

The SDF is part of our commitment to strong governance of our environmental sustainability efforts, which underpins The Plan for Possible. In fiscal 2024, we began using the SDF for several purposes, including generating customer-facing product carbon footprint reports and automating our own emissions accounting, which are important to evolving regulatory and reporting requirements. We continue to expand the data within the SDF and its application across our business.

Read the full FY24 Purpose Report

To learn more about the progress we’re making to Power an Inclusive Future for All, visit our Cisco Purpose Reporting Hub.

View original content here.

Client Need 

Bakerly engaged Baker Tilly to identify the optimal location for future food production capacity through a detailed site suitability analysis with a comprehensive supply chain scenario review and to secure credits and incentives for the project.

A growing family-owned baked goods company, Bakerly, required capital investment planning for a new production facility to meet the increasing demand for its authentic French recipe products. Bakerly was seeking assistance in identifying the optimal location for future production capacity through a detailed site suitability analysis with a comprehensive supply chain scenario review and help in securing credits and incentives for the project.

Our solutions

Baker Tilly’s site selection and location strategy and incentives advisory teams conducted an extensive supply chain mapping and analysis, creating a dynamic model that considered future sales growth scenarios. This model guided Bakerly to a stage where the production facility was both constructible and financeable from the perspective of internal and external stakeholders. The project was divided into two main phases:

Concept and feasibility: This phase concluded with sufficient due diligence for the Bakerly to make an informed “go/no-go” decision on the most suitable locations for expansion. Initial criteria, such as direct flight access, narrowed potential locations across the U.S. Further analysis of supply chain, utility and labor costs at a metropolitan statistical area (MSA) level reduced the options to three cities for consideration.Site identification and incentives: In this phase, collaboration with the engineering team and equipment vendors was facilitated, analyzing several sites within each of the three identified MSAs, eventually focusing on two sites in detail regarding constructability and cost. The Baker Tilly support team assisted in securing land control and provided the necessary details to confidently select a final site that met the project’s objectives, timeline and budget. Additionally, Baker Tilly worked with local and state organizations to secure a significant incentives package for the project.

Throughout the project, Baker Tilly ensured careful coordination and collaboration through weekly meetings with key stakeholders, vendors and the engineering team to discuss site-specific considerations such as construction costs, permitting and land control status.

Results

Baker Tilly provided the clarity and insight needed for our client to confidently proceed with funding approval for the production facility. Deliverables included a mapping visual showing geographic reach based on defined flight options and drive times, a dynamic Tableau scenario-based operational costing tool, a summary document of siting criteria with quantitative measures to narrow down site location options further, and a summary document outlining due diligence progress on each site under consideration, including a net present value (NPV) analysis. Baker Tilly assisted in procuring incentives exceeding 10% of project capital costs. The company opened the 135,000-square-foot production facility in March 2024 in San Antonio, Texas.

For more information on this topic, or to learn how Baker Tilly site selection and incentives advisory specialists can help you locate and fund your new facility, contact a Baker Tilly specialist.