News & Analysis as of

Phishing Scams

IRS Warns Of Resurgence Of W-2 Email Scams

by Fox Rothschild LLP on

The Internal Revenue Service has issued a renewed warning for tax professionals and businesses to beware of a recent increase in email scams targeting employee Forms W-2. According to the IRS, the W-2 scam – called business...more

Russian Cyber Attack on US Nuclear Power Stations

by Miles & Stockbridge P.C. on

A report from the FBI and the Department of Homeland Security warns of malware attacks targeting mainly nuclear power stations and energy facilities. The attacks started in May of this year....more

Two Court Rulings Show Coverage Difficulties for “Fake President” Fraud

by Nossaman LLP on

A few weeks back, the Insurance Recovery report posted a blog about the difficulty obtaining insurance coverage for “fake president” fraud, which is also known as business e-mail compromise, or social engineering fraud. Two...more

Corporate E-Note - July 2017

by Burr & Forman on

Cyber threats take many forms. The widespread WannaCry ransomware attack in May of 2017 highlighted how computer files could be held hostage in return for payment, while the Dyn denial of service in October of 2016...more

Cybersecurity: Spear Phishing Covered Under Insurance Policy Where Code Manipulated

by Bennett Jones LLP on

Increasingly, insureds faced with cyber fraud losses are going to the courts to interpret their policies. In The Brick Warehouse LP v. Chubb Insurance Company of Canada, 2017 ABQB 413 [The Brick Warehouse], and in Taylor &...more

Gavel to Gavel: Preventing data breaches

by McAfee & Taft on

The risk data breaches and cyberattacks pose to small businesses cannot be overstated. Roughly half experienced a breach within the past year at an average cost of $665,000 and immeasurable lost revenue. Worse yet,...more

Phishing Moves to SMiShing

by Miles & Stockbridge P.C. on

Phishing, the fraudulent practice of sending emails purporting to be from reputable companies in order to induce individuals to reveal personal information (such as passwords and credit card numbers) is something that we have...more

Cyber Threats Equal Serious Threats

by Burr & Forman on

Every where you look these days, there seems to be another report of a cyber attack--attacks which do not discriminate based on industry type, size of business, or impact. In other words, everyone is vulnerable. In fact, the...more

Hacker Steals Millions from Virtual Currency Exchange Bithumb

A cyber-attack against–Bithumb–one of South Korea’s largest cryptocurrency exchanges and one of the five largest in the world—has reaped access to the data of 30,000 users and drained their accounts in the process. Bithumb is...more

Ransomware is taking the world by storm; does insurance respond?

On June 27, 2017, the world had its second major ransomware attack in two months, and experts are predicting more to come. The first, named WannaCry, began May 12, and quickly spread to over 400,000 machines, the vast...more

Alabama Man Sentenced to Prison for Elaborate “Phishing” Scheme

by Balch & Bingham LLP on

An Alabama man has been sentenced to spend six months in prison for illegally accessing the personal information of over fifty women. For over two years, Kevin Maldonado engaged in a hacking technique called “phishing,”...more

Southern Oregon University Victim of Phishing Scheme

Last month, Southern Oregon University (SOU) announced that it was the victim of a $1.9 million phishing scheme. SOU received an email purportedly from their contractor, Anderson Construction, requesting the April payment for...more

When Health Data Goes Missing: Largest Reported Ransomware Attack

In the aftermath of two powerful global ransomware attacks, a Michigan-based medical equipment provider has disclosed that hackers “encrypted our data files” and accessed more than 500,000 patient records in what is believed...more

OCR Issues Reminder on Security Incidents

Following the frequent and varied ransomware attacks on health care entities over the past few years, the Office for Civil Rights (OCR) published guidance last summer to the health care industry reminding it that a ransomware...more

What Lawyers Should Know To Avoid Online Scams

According to a February 2017 American Bar Association press release, “cyber-related risks have escalated based on the sensitivity and nefarious uses of that data. Last year, for example, the Manhattan U.S. attorney’s office...more

Phishing Lures: What To Do If You’ve Taken The Bait - U.S. Version

by Dickinson Wright on

Sometimes, it’s easy to know you’re being phished. There’s little chance that a bank administrator in a country you’ve never heard of really needs your help to get the unclaimed money of a deceased, rich foreigner out of the...more

Petya Ransomware Attack Has No Kill Switch

On the heels of the WannaCry ransomware attack last month, a new ransomware variant, Petya, hit organizations around the world on Tuesday and stopped them in their tracks—including a major law firm. This keeps us up at night...more

New Tool to Detect Ransomware May Prevent a Cyber Catastrophe

by Zelle LLP on

We here in the CAT – Law pressroom occasionally come to have a dispirited world view due to our constant and laser-like focus on the topic of catastrophes. However, our Magic 8 Ball has been saying “it is most probable”...more

Hacker Sentenced To Nearly Five Years In Prison For Phishing Scheme

by King & Spalding on

On Monday, June 5, 2017, the United States Department of Justice (“DOJ”) announced that a Cameroonian citizen, Eric Donys Simeu, had been sentenced to four years and ten months in prison for phishing campaigns targeting...more

2017 Security Breaches: Frequency and Severity on the Rise

by Revision Legal on

We are only six months into 2017, and we can already tell that it is going to be a bumper year with regard to instances of data security breaches. Looking back at the hacking statistics from 2015 and 2016, we should not be...more

US-CERT Encourages Companies to Act on FBI Guidance to Protect Email Systems

Recently the United States Computer Emergency Readiness Team (US-CERT), an organization within the Department of Homeland Security’s (DHS) National Protection and Programs Directorate (NPPD) and a branch of the Office of...more

Post-WannaCry—US-CERT Warns of Samba Security Flaw

Following the massive WannaCry event, the mantra among security folks is push patches to vulnerabilities as soon as they are released. US-CERT issued a warning late last week that there is a newly discovered flaw,...more

$10 domain name halts spread of WannaCry ransomware

by Hogan Lovells on

A major global ransomware attack going by the name of WannaCry was recently short circuited by the registration of a single domain name costing just over $10. The unregistered domain name consisting of random characters was...more

Corporate E-Note - May 2017

by Burr & Forman on

Starting on Friday, May 12th, computers in countries around the world have fallen victim to the latest ransomware attack. As of May 15th, it is estimated that more than 150 countries have infected systems, totaling over...more

Scam Targets Defendants In Class-Action Cases

by Fox Rothschild LLP on

We’ve discussed before how phishing scams target employers. A new scam focuses on defendants who have settled class-action claims. The scammers send wire transfer instructions that appear to come from reputable class-action...more

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Cybersecurity

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