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Organizations need to be careful when purchasing “cyber-insurance,” because the coverage may not be as broad as they assume. Many “cyber-insurance” policies only cover costs related to sending notices to customers whose data may have been compromised during a cybersecurity incident. If an organization loses its own money or data, however, it may need to look to forgery, computer fraud, social engineering, ransom, or funds-transfer fraud coverage. This blog has covered numerous cases of insurance…
Organizations need to be careful when purchasing “cyber-insurance,” because the coverage may not be as broad as they assume. Many “cyber-insurance” policies only cover costs related to sending notices to customers whose data may have been compromised during a cybersecurity incident. If an organization loses its own money or data, however, it may need to look to forgery, computer fraud, social engineering, ransom, or funds-transfer fraud coverage. This blog has covered numerous cases of insurance…
Organizations need to be careful when purchasing “cyber-insurance,” because the coverage may not be as broad as they assume. Many “cyber-insurance” policies only cover costs related to sending notices to customers whose data may have been compromised during a cybersecurity incident. If an organization loses its own money or data, however, it may need to look to forgery, computer fraud, social engineering, ransom, or funds-transfer fraud coverage. This blog has covered numerous cases of insurance…
Cybersecurity incidents can have a dramatic impact on the lives of individuals. This blog has covered numerous cases of individuals and businesses trying to pick up the pieces after fraudsters are gone with their money. That was true for the King family when they realized they sent $90,000 to fraudsters instead of the bank to pay off a mortgage. This blog has previously discussed the risks to homebuyers of fraudsters infiltrating the closing process and…
Cybersecurity incidents can have a dramatic impact on the lives of individuals. This blog has covered numerous cases of individuals and businesses trying to pick up the pieces after fraudsters are gone with their money. That was true for the King family when they realized they sent $90,000 to fraudsters instead of the bank to pay off a mortgage. This blog has previously discussed the risks to homebuyers of fraudsters infiltrating the closing process and…
Cybersecurity incidents can have a dramatic impact on the lives of individuals. This blog has covered numerous cases of individuals and businesses trying to pick up the pieces after fraudsters are gone with their money. That was true for the King family when they realized they sent $90,000 to fraudsters instead of the bank to pay off a mortgage. This blog has previously discussed the risks to homebuyers of fraudsters infiltrating the closing process and…
Cybersecurity incidents can have a dramatic impact on the lives of individuals. This blog has covered numerous cases of individuals and businesses trying to pick up the pieces after fraudsters are gone with their money. That was true for the King family when they realized they sent $90,000 to fraudsters instead of the bank to pay off a mortgage. This blog has previously discussed the risks to homebuyers of fraudsters infiltrating the closing process and…
This blog has covered numerous cases of hackers impersonating parties to commercial transactions, and rerouting funds meant to pay for equipment or services. Fraudsters have impersonated high-level executives to induce accounting employees to transfer funds. Fraudsters impersonated a company’s vendor, and provided fraudulent wiring instructions for the company to send payments. That same kind of fraud led to litigation between a company and its insurance company over whether there was coverage for stolen payments.…
This blog has covered numerous cases of hackers impersonating parties to commercial transactions, and rerouting funds meant to pay for equipment or services. Fraudsters have impersonated high-level executives to induce accounting employees to transfer funds. Fraudsters impersonated a company’s vendor, and provided fraudulent wiring instructions for the company to send payments. That same kind of fraud led to litigation between a company and its insurance company over whether there was coverage for stolen payments.…
This blog has covered numerous cases of hackers impersonating parties to commercial transactions, and rerouting funds meant to pay for equipment or services. Fraudsters have impersonated high-level executives to induce accounting employees to transfer funds. Fraudsters impersonated a company’s vendor, and provided fraudulent wiring instructions for the company to send payments. That same kind of fraud led to litigation between a company and its insurance company over whether there was coverage for stolen payments.…