Tag Archives: Cyber Crime
Social Engineering Fraud: A Risky Commercial Crime
Social engineering fraud is a blanket term that is used to describe cyber crimes that are designed to deceive and manipulate victims into giving out confidential personal and financial information and funds. Cyber criminals target a variety of victims with this type of crime. Essentially, anyone with an email address and bank account is vulnerable to social engineering fraud. However, businesses are a popular target due to the resources they …
Computer Security Day Is Coming Up: Protect Your Business From Cyber Attacks
On November 30th, we will celebrate the international holiday Computer Security Day. The day was created in 1988, when computers started to become ubiquitous in business and in people’s personal lives. Since then, the day has served as a reminder to be aware of computer security and to protect against cyber risks. There are multiple things that you can do at your business during this day in order to protect …
Top Cyber Liabilities For Businesses
As technology has evolved, so have the ways in which it can be exploited. As October is National Cyber Security Awareness month, it’s important that every business take a look at their current cyber practices and the new trends in technology in order to be aware of potential sources for cyber attacks and to protect themselves accordingly. In addition to having Cyber Liability insurance to cover them in the event …
Artificial Intelligence in the Workplace and Cyber Security Concerns
Many of you have probably used some form of artificial intelligence in your day-to-day lives, whether it is using Amazon’s Echo or Apple’s Siri to gain information or Tesla’s Autopilot feature on the road. Artificial intelligence isn’t just growing in our everyday lives; many businesses today are starting to implement artificial intelligence and machine learning into their workplaces to perform certain duties, increase productivity, and take some of the strain …
Cyber Crime: WannaCry Screams the Need to Protect Against Ransomware
Ransomware as a threat has been on the scene for a while, but it’s increasingly rising and widespread. Take a look at WannaCry, the recent ransomware that affected more than 200,000 computer systems in more than 150 countries and crippled transportation and hospitals globally. The majority affected were Windows-based computers that were not updated with a recently available and easily deployed patch.
Ransomware is a type of malware that, upon …
Check Inside Your Cyber Liability Insurance Policy
Cyber attacks are a relatively new, yet insidious and frequent phenomenon. The insurance industry is responding to the risks they pose by designing insurance policies to address various exposures. The Cyber insurance industry, although in its nascent state, has more than doubled in value from $1 billion in 2012 to $2 billion in 2015, and could triple by 2020 as result of a growing landscape of cyber threats, according to …
The Risk of On-Line Cyber Crime, Fraud on the Rise
In our recent article, “Potential E&O Exposures for Real Estate Professionals,” we discussed the exposures related to the use of wire transfers and the Automated Clearing House (ACH) in transactions for real estate agents and brokers, property managers, title agents and escrow agents, mortgage brokers and bankers. These risks involved were also recently underscored in an article in the Wall Street Journal on July 29…
Cyber Liability: Lessons Learned After a Data Breach
Takeaways from High-Profile Data Breaches
Recent high-profile data breaches from Target and Home Depot to Sony, Anthem and most recently Premera have risk executives and managers looking for the lessons to be learned in mitigating such compromises. Following are some takeaways, courtesy of SurfWatch.
- Take a look at potential threats to your organization from all vantage points, not simply from a technical view. Focus on the human element, the tools
How Insurance Firms Can Minimize Cyber Risks
Cyber Security Controls, Privacy/Network Security Coverage Essential
Cyber threats come from any different sources, including business processes and services contracted with third-party vendors. We saw this with Target’s breach last year in which a malware-laced email phishing attack sent to employees at an HVAC firm that does business with the giant retailer was linked to the cyber attack. We also saw this with hotelier Wyndham Worldwide Corporation, which was the …
The New Reality of Cyber Liability Risks for Small Firms
Cyber Liability Coverage An Integral Component of the Insurance Mix
While big data breaches make headlines, for every high-profile case there are dozens of threats to confidential data and information that affect everyday businesses. In a recent article in the Los Angeles Times, which highlighted examples from a list of breaches maintained by the California attorney general, it’s evident that not only are all types and size businesses exposed …
