Cyber Crimes

News & Analysis as of

Cyber-Extortion: A How-To Guide

Cyber extortion refers to a situation in which a third party threatens that if an organization does not pay money, or take a certain action, the third party will take an adverse action against the organization. Among other...more

Sony Cyber-Attackers Lurking at Financial Supervisor “Watering Hole” Target Banks and Others

Cybersecurity specialists at BAE Systems and Symantec announced last week new evidence suggesting that the criminals behind the notorious 2014 attack on Sony Corp. are also responsible for recent cyber-attacks involving 104...more

Notable New State Privacy and Data Security Laws – Part Two

This is the second in a two-part series addressing recent developments in state privacy and data security laws. This article addresses new laws about student privacy, enforcement/ punishment for data privacy and security...more

Cybersecurity Obligations of Directors - Guidance from the United States Decisions

Your organization will in all likelihood suffer a cyberattack. According to a recent study by Accenture, the average Canadian organization faces about 96 cyberattacks per year, nearly one third of which result in a security...more

FBI Warns of Romance Scams that “Break Hearts and Bank Accounts”

On the eve of Valentine’s Day, the FBI issued a timely warning about the rise of “Romance Scams.” This type of Internet crime typically targets older widowed or divorced women. While these women are typically computer...more

HR, Payroll, Finance Department Beware: Renewed IRS W-2 Phishing Scam Alert

The Internal Revenue Service and other agencies recently issued an urgent reminder Alert warning of a sophisticated scam to obtain confidential information and in some cases, fraudulent cash wire transfer payments. Scammers...more

WIPO - France: Domain name used for cyber fraud

In a recent decision under the Uniform Domain Name Dispute Resolution Policy (UDRP) before the World Intellectual Property Organization (WIPO), a Panel ordered the transfer of a domain name because, although it had never been...more

Privacy Perils: Social Engineering Fraud - the C-Suite Maneuver

It's a common misconception that cyber-criminals use sophisticated technical tools to hack into a person's computer or online accounts. More often than not, cyber attackers use old fashioned trickery or "social engineering"...more

Of Greek Gods and Data Breaches

The sorry story of Chris Correa, the St. Louis Cardinal executive convicted of hacking into the Houston Astros computer system expanded last month when Federal Judge Lynn Hughes unsealed details about the extent of the...more

IRS Issues Warning of “Dangerous W2 Phishing Scam”

We always see a surge in W2 email phishing schemes this time of year, as it is tax time, and many individuals are filing their tax returns in order to get a quick refund. So are criminals and cyber-hackers. ...more

IRS Issues Warning About W-2 Cyber-Scams, Especially for Schools, Nonprofits and Tribal Organizations

On February 2, 2017, the IRS issued a warning to all employers regarding the resurgence of a W-2 based cyber scam. The scam, which targets the corporate world during tax season, is currently “spreading to other sectors,...more

CFOs Identify Cyber-Attacks as One of their Top Operational Risks

FM Global and CFO Research Services have partnered together and recently issued a study titled “Finance’s Role in Operational Risk Management: CFO Research on Building a Resilient Company.” ...more

Major League Baseball fines Cardinals and Plucks Draft Picks for Hacking the Astros

It doesn’t always pay to be a hacker. Major League Baseball (MLB) this week made a strong statement about its tolerance for teams hacking other teams. We previously reported on the incident when a Cardinals employee hacked...more

Eighth Circuit Remands Proposed Settlement in Target Data Breach Class Action

The Eighth Circuit Court of Appeals has remanded a $10 million settlement in the Target data breach class action on the grounds that the district court had not rigorously analyzed the propriety of the class...more

IRS and Others Renew Warnings About Fraudulent Emails Targeting Employee Tax Information

With tax season in full swing, the Internal Revenue Service (IRS), state tax agencies, and tax industry groups recently renewed a warning about Form W-2 email spear-phishing scams. ...more

6 Things to Know About Cyber Liability Insurance

Are you covered? Here are 6 things to know about cyber liability insurance (also known as data breach insurance): Coverage is still evolving. Over 60 insurance companies – maybe more – offered such a policy; however,...more

Cyber-physical Attacks on Critical Infrastructure: What’s Keeping Your Insurer Awake at Night?

Cyber-physical attacks on critical infrastructure that have the potential to damage those physical assets and to cause widespread losses to third parties are keeping your insurer awake at night. A cyber-physical attack on...more

Cancer Services Provider Confronts Ransomware Bully

My newest hero in the fight against ransomware is Little Red Door Cancer Services of East Central Indiana (Little Red Door). I am sending a donation to it to celebrate its courage in the last few weeks. Little Red Door...more

Connecticut Town Struck by Cyber Fraud

On January 17, 2017, officials in Farmington, Connecticut disclosed that the town was recently the victim of a multi-million dollar theft likely perpetrated by sophisticated cybercriminals operating in China. The thieves...more

Los Angeles Community College Pays Ransomware to Retrieve Data

On December 30, 2016, the Los Angeles Community College computer network was kidnapped by cyber criminals requesting a ransom for its return. The ransomware encrypted the college’s entire network system, including...more

Privacy Perils: Beware Browser Autofill

The ingenuity of determined fraudsters should never be underestimated. Gizmodo, a technology website, reports on a simple scheme where hackers capture your sensitive information merely by hijacking the autofill features found...more

Law Firm Data Breaches Demonstrate the Expanding Scope of Cyber Attacks

In a case of “cyber meets securities fraud,” the United States Attorney’s Office for the Southern District of New York (“SDNY”) recently indicted three foreign nationals on charges of insider trading, wire fraud, and computer...more

Studies Show Ransomware up 6,000% and Reaps Billions and Phishing Emails are Used in 91% of all Cyber-Attacks

A recent IBM study shows that ransomware increased 6,000 percent in 2016 over 2015. According to the report, ransomware was present in almost 40 percent of all spam email messages....more

No More Ransom Project Expands Membership and Tools

The No More Ransom Project, a coalition of security companies and law enforcement, which was launched through a partnership with the European Cybercrime Centre, the National High Tech Crime Unit of the Netherlands police,...more

Privacy Tip #69 – Hit with Ransomware? To Pay or Not to Pay

Every day I get a call from a client asking for help involving ransomware. Friends have called in a panic when that dreadful message comes up on the screen informing you that you are the victim of ransomware with instructions...more

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