Organizations Holding Cyber Insurance Policies May Get Stuck with the Bill in a Phishing Loss

KnowBe4

PhishingPlenty of new anecdotal and legal case-based stories are demonstrating that just because your organization has a policy doesn’t mean it’s actually going to pay out after an attack.

Top 8 Cyber Insurance Companies for 2022

eSecurity Planet

That’s where cyber insurance may be able to help. But there’s a catch: Insurers are going to carefully assess your cybersecurity controls before writing any policy, and there are limits to coverage. Cyber Insurance is Booming. Selecting a Cyber Insurer.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

‘Tis the Season for the Wayward Package Phish

Krebs on Security

Here’s a look at a fairly elaborate SMS-based phishing scam that spoofs FedEx in a bid to extract personal and financial information from unwary recipients. One of dozens of FedEx-themed phishing sites currently being advertised via SMS spam.

Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs

eSecurity Planet

The explosion of ransomware and similar cyber incidents along with rising associated costs is convincing a growing number of insurance companies to raise the premiums on their cyber insurance policies or reduce coverage, moves that could further squeeze organizations under siege from hackers.

Phishing Attack-Turned-Wire Fraud Case Sees a Win for the Policyholder

KnowBe4

In an unusual turn of events, a recent court decision sided with the policyholder, despite specific policy language that probably should have favored the insurer. Phishing

Checklist for Getting Cyber Insurance Coverage

Thales Cloud Protection & Licensing

Checklist for Getting Cyber Insurance Coverage. The necessity for cyber-insurance coverage. With cyber attacks amounting to a question of when and not if, cyber insurance becomes crucial for ensuring business continuity and mitigating the business impact of attacks – should they occur.

Cloud 72

Lloyd’s Will No Longer Include Nation-State Attacks in its Cyber Insurance Policies

IT Governance

Lloyd’s of London has announced that its insurance policies will no longer cover losses resulting from certain nation-state cyber attacks or acts of war. Without clarity on where thresholds are, no insurance policyholder has any type of certainty of what risk they are mitigating.”.

First American Financial Corp. Leaked Hundreds of Millions of Title Insurance Records

Krebs on Security

The Web site for Fortune 500 real estate title insurance giant First American Financial Corp. based First American is a leading provider of title insurance and settlement services to the real estate and mortgage industries. “Closing agencies are supposed to be the only neutral party that doesn’t represent someone else’s interest, and you’re required to have title insurance if you have any kind of mortgage,” Shoval said.

Catches of the Month: Phishing Scams for July 2022

IT Governance

Welcome to our July 2022 review of phishing attacks, in which we explore the latest email scams and the tactics that cyber criminals use to trick people into handing over their personal data. NFT marketplace warns users of phishing scams.

Phony Instagram ‘Support Staff’ Emails Hit Insurance Company

Threatpost

The phishing scam tried to steal login credentials by threatening account shutdown, due to users having purportedly shared “fake content.”. Hacks Malware Web Security

Insurance data compromised at Minnesota Department of Human Services

Information Management Resources

About 21,000 individuals receiving health insurance through the Minnesota Department of Human Services are affected by a potential breach. Data breaches Phishing Identity theft protection Insurance

The ‘Zelle Fraud’ Scam: How it Works, How to Fight Back

Krebs on Security

Naturally, a great deal of phishing schemes that precede these bank account takeovers begin with a spoofed text message from the target’s bank warning about a suspicious Zelle transfer. Bob Sullivan Consumer Financial Protection Bureau CUNA Mutual Insurance Ken Otsuka Zelle scam

IT 285

Rapper Scams $1.2M in COVID-19 Relief, Gloats with ‘EDD’ Video

Threatpost

Government Privacy Web Security arrested BEC big wizza Business Email Compromise CARES Act EDD Fontrell Antonio Baines Fraud Identity theft Nuke Bizzle Pandemic Unemployment insurance Phishing phishing scam PUA scattered canary tax data Tax Fraud

American Insurance firm State Farm victim of credential stuffing attacks

Security Affairs

The American group of insurance and financial services companies State Farm disclosed a credential stuffing attack it has suffered in July. The American group of insurance and financial services companies State Farm revealed that it was the victim of a credential stuffing attack it has suffered in July. The insurance firm is notifying the impacted customers, but it did not disclose the number of affected users.

Think you’re not susceptible to phishing? Think again

IT Governance

On average, one in ten emails is a phishing scam. Very few respondents said they were likely to be lured by the most common pitfalls of phishing scams: Urgency: 10.7%. To see whether respondents really weren’t tempted by such scams, PhishMe sent them a series of simulated phishing emails. How does phishing work? >> Unsurprisingly, respondents were far more likely to open phishing emails that preyed on fear, urgency and curiosity than they thought.

IT 58

Catches of the month: Phishing scams for July 2021

IT Governance

Welcome to July’s review of phishing scams, in which we look at criminals’ latest tactics and provide examples of successful frauds. Test your employees’ ability to detect a scam with our simulated phishing attack. Healthcare facilities targeted by phishing scams.

EvilProxy Bypasses MFA by Capturing Session Cookies

Data Breach Today

The latest ISMG Security Report discusses a new phishing-as-a-service toolkit designed to bypass multi-factor authentication, the decision by Lloyd's of London to exclude nation-state attacks from cyber insurance policies, and challenges at Okta after it acquired customer identity giant Auth0

Vishing is a Rising Threat to the Enterprise

KnowBe4

Most of us are all too familiar with vishing, the scam voice calls that offer to erase your credit card debt, to extend your automobile warranty, to get you to donate to that worthy cause you’ve probably never heard of, to qualify for insurance you never knew you could qualify for, and so one.

Catches of the month: Phishing scams for June 2020

IT Governance

One of the more damaging side-effects of the coronavirus pandemic has been the increase in targeted phishing scams. As of 15 May, the UK’s cyber crime agency had uncovered 7,796 phishing emails linked to COVID-19.

Think you’re not susceptible to phishing? Think again

IT Governance

Phishing is big business for cyber criminals. According to PhishMe’s Enterprise Phishing Resiliency and Defense Report 2017 , phishing attacks rose by 65% last year, with the average attack costing mid-sized companies $1.6 Experts say that phishing attacks are most successful when they create a sense of urgency, fear or curiosity, but these were near the bottom of a list of self-reported motivations: Entertainment: 19.5%. Help your staff avoid phishing attacks.

IT 58

Is Trickbot Botnet Making a Comeback?

Data Breach Today

Researchers: Phishing Campaign Targeting Insurance and Legal Industries Trickbot appears to be making a comeback with a fresh campaign that is targeting insurance companies and legal firms in North America, according to an analysis by Menlo Security.

How One Company Survived a Ransomware Attack Without Paying the Ransom

eSecurity Planet

Cyber Insurer Provides Help. As Spectra Logic had the foresight to take out cyber insurance , Chubb representatives were professional and helpful, according to Mendoza. Also read: Top 8 Cyber Insurance Companies for 2022 Best Ransomware Removal and Recovery Services.

The Scammers’ Playbook: How Cybercriminals Get Ahold of Your Data

eSecurity Planet

Phishing complaints were reported over 300,000 times in 2021 to IC3, the only Internet crime to crack 100,000+ complaints. Finance and insurance finished a close second at 22.4%. Phishing attacks made up 40% of all attacks in the sector.

Pharmaceutical companies exploited by phishing scam targeting job seekers

IT Governance

Earlier this month, two major pharmaceutical giants issued warnings about phishing emails targeting job hunters. Unfortunately, red flags like that are ignored in all kinds of phishing scams, and this scheme is a perfect example of why that happens. As is standard, GlaxoSmithKline says that interviewees or those who have been offered jobs might be asked to provide passport information or other personal identification, such as a National Insurance number.

Catches of the month: Phishing scams for January 2020

IT Governance

Want to stay up to date with the latest phishing scams ? Latest PayPal phishing scam goes for more than just your login details. It begins with a standard phishing email, but victims end up handing over financial and personal details in addition to their login credentials.

IT 59

Catches of the month: Phishing scams for November 2020

IT Governance

As the UK heads back into lockdown, we expect to see a fresh wave of phishing attacks capitalising on the public’s fear and uncertainty. At the start of the pandemic, we discussed emerging phishing scams centred on the coronavirus. But if we are to shut down these phishing attacks, people must share scams when they receive them. Phishing thrives when people are caught off guard, so the more we know about the methods that criminals use, the safer we are.

Catches of the month: Phishing scams for May 2020

IT Governance

Whether you’re forced to work from home, out of work or otherwise preoccupied by the stress and discomfort of lockdown, we are all more susceptible to phishing emails than ever before. The email should raise suspicions if you’re aware of how phishing scams work.

Hackers Breached Virginia Bank Twice in Eight Months, Stole $2.4M

Krebs on Security

Hackers used phishing emails to break into a Virginia bank in two separate cyber intrusions over an eight-month period, making off with more than $2.4 Now the financial institution is suing its insurance provider for refusing to fully cover the losses. According to a lawsuit filed last month in the Western District of Virginia, the first heist took place in late May 2016, after an employee at The National Bank of Blacksburg fell victim to a targeted phishing email.

Phishing emails and malicious attachments responsible for 34% of cyber attacks

IT Governance

A recent F-Secure report has found that phishing emails (16%) and malicious attachments (18%) together accounted for 34% of cyber attacks. The gaming and public-sector industries were mostly affected by targeted attacks, whereas the insurance and telecom industries mostly suffered opportunistic attacks. If employees aren’t fully educated on phishing, they are liable to underestimate the threat. Find out more about phishing >> Cyber Security Staff Awareness phishing

IT 41

Catches of the month: Phishing scams for August 2019

IT Governance

phishing emails every week. There’s plenty of advice on how to spot phishing scams , but without any real-world examples that explain how they work, it can be easy to see the threat as purely theoretical. That’s why we’ve decided to review phishing attacks in practice. So, for the first time, let’s take a look at the catches of the month: Lancaster University students’ personal data stolen in phishing attack. Your employees receive an average of 4.8

IT 49

COVID-19 themed attacks increase in Brazil, India, and UK

Security Affairs

Threat actors continue to use COVID-19 lures, Google is reporting an increase in Coronavirus-themed phishing attempts in Brazil, India, and the UK. of all spam, phishing, and malware messages sent to Gmail users.

Data Breaches are More Expensive than Last Year, New IBM Security Report Finds

Data Matters

20% of data breaches in 2021 occurred as a result of compromised credentials, followed closely by phishing (17%) and cloud misconfiguration (15%). Cybersecurity Data Breaches Insurance PolicyDeath, taxes and data breaches.

Hackers Breached Virginia Bank Twice in Eight Months, Stole $2.4M

IG Guru

Hackers used phishing emails to break into a Virginia bank in two separate cyber intrusions over an eight-month period, making off with more than $2.4 Now the financial institution is suing its insurance provider for refusing to fully cover the losses. million total. According to a lawsuit filed last month in the Western District of […]. The post Hackers Breached Virginia Bank Twice in Eight Months, Stole $2.4M appeared first on IG Guru.

USAID Email Phishing Campaign Shows Supply Chain Threats Continue

eSecurity Planet

Agency for International Development (USAID) to launch phishing campaigns against a broad array of targets. Now the group is back with the USAID phishing campaign. ” Further reading: Cyber Insurers Pull Back Amid Increase in Cyber Attacks, Costs.

Second Circuit Stands By Medidata “Spoofing” Decision

Hunton Privacy

As reported on Hunton’s Insurance Recovery blog , the Second Circuit has rejected Chubb subsidiary Federal Ins. s request for reconsideration of the court’s July 6, 2018, decision, confirming that the insurer must cover Medidata’s $4.8 million loss under its computer fraud insurance policy. The court again rejected the insurer’s argument that the fraudster did not directly access Medidata’s computer systems.

GUEST ESSAY: The Top 5 online privacy and data security threats faced by the elderly

The Last Watchdog

And, let’s be honest , the deceptive writing phishing assaults and other cyber threats today employ are skilled enough to fool even the most trained, internet-savvy experts. Phishing emails and messages may appear from a company you’re familiar with or trust, and they can appear to be from a credit card company or a bank. A criminal exploiting someone’s medical or insurance details to make fraudulent claims is known as medical identity theft.

Ransomware, Mobile Malware Attacks to Surge in 2020

Threatpost

Targeted ransomware, mobile malware and other attacks will surge, while companies will adopt AI, better cloud security and cyber insurance to help defend and protect against them. Hacks Malware Mobile Security 5G artificial intelligence Businesses Check Point Software cloud infrastructure Cloud Security Cyber security Data google malware mobile mobile devices Phishing ransomware SMS

Medical Debt Collection Firm R1 RCM Hit in Ransomware Attack

Krebs on Security

“The phishing emails the authors use are well-crafted,” Trend Micro wrote. For example, in an attack targeting a hospital, the phishing email was made to look like it came from a hospital IT manager, with the malicious files disguised as patient reports. R1 RCM Inc.

Cyber attacks hit a fifth of schools and colleges

IT Governance

One in five schools and colleges have fallen victim to cyber crime, according to research from the specialist insurer Ecclesiastical, yet the majority (74%) of educational establishments claim to be “fully prepared” to deal with such attacks. . According to Ecclesiastical’s research, of those that suffered a cyber attack, 71% downloaded malware and 50% experienced phishing attacks. Phishing and ransomware e-learning course . Explain what phishing is. .

BazarCall attacks have revolutionized ransomware operations

Security Affairs

The Conti ransomware gang is using BazarCall phishing attacks as an initial attack vector to access targeted networks. BazarCall attack, aka call back phishing, is an attack vector that utilizes targeted phishing methodology and was first used by the Ryuk ransomware gang in 2020/2021.