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Business Email Compromise
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The consequences of a cyberattack can be catastrophic, as we saw in the previous blog of this series. Cybersecurity is a business-wide responsibility that demands a proactive strategy extending far beyond technical solutions...more
In an increasingly digitized world, law firms are prime targets for sophisticated cyber threats that can result in substantial financial losses and reputational damage. Recently, a prominent law firm, esteemed for its...more
“Protect your data! Breaches are on the rise!” These warnings seem to be everywhere – and rightfully so. Threat actors are sophisticated and new breach trends are constantly materializing. Awareness is no longer enough. It...more
Phishing has long been a favorite tactic for threat actors (hackers) to commence a cyberattack. The rapid expansion of more adaptable and available artificial intelligence (AI) technologies, such as natural language...more
‘Tis the season for the hustle and bustle of year-end holiday activities. With that comes the increased risk of cybercriminals exploiting the season to find vulnerabilities. This includes taking advantage of increased online...more
Amazon Sued for Not Telling New York Store Customers about Tracking Biometrics - “Thanks to a 2021 law, New York is the only major American city to require businesses to post signs letting customers know they’re tracking...more
Losses arising from email scams are usually covered, if at all, under a company’s crime policy. But a recent decision from The District Court in Minnesota suggests that recourse may also be found under an insured’s cyber or...more
Internet users have (mostly) learned to avoid scams by supposed Nigerian princes looking to share a vast inheritance, and there has been a rise in awareness of other common signs of phishing attempts, such as poor spelling...more
Email scams and viruses are nothing new—threats like phishing emails and malware have been around since the days when services like AOL still dominated the internet and email landscape. However, while technology has made a...more
Cybercrime is at an all-time high, with just the cybercrime insurance industry alone expecting to grow from $8 billion globally in 2020 to $20 billion by 2025.1 Although cyber liability insurance policies now exist to help...more
Where We Stand - This year kicks off against the backdrop of the security flaw found in Log4j, a system-logging code library widely used in applications and services across the Internet. In the aftermath of this crisis, a...more
Cybercriminals exploited remote work during the COVID-19 pandemic. In 2020, the FBI’s Internet Crime Complaint Center (IC3) saw a record 70% increase in the number of reported internet scams and losses exceeding $4.2...more
According to Microsoft, 91% of cyberattacks start with an email. In an earlier Privacy Peril we provided information on prevalent words phishers of men and women insert in an email subject line to grab the recipient’s...more
If you are an organization that uses Microsoft Office 365 as your email platform, be on the lookout for a new tricky phishing attack recently used by cyber criminals. ...more
As the global pandemic begins to show signs of waning, cyber risk is showing no such easing. In fact, in a recent survey, over 68% of business leaders reported believing that their cybersecurity risks are increasing, despite...more
Report on Patient Privacy 21, no. 4 (April 2021) - A Texas Medicaid subcontractor has been terminated after a data breach caused by a ransomware attack originating from Russia exposed the personal information of tens of...more
State and local governments have been hammered with business email compromise (BEC) attacks over the past few years and the onslaught does not appear to be abating....more
U.S. hospitals, already on the front lines of fighting the coronavirus pandemic, are now facing viral attacks by cybercriminals. More than 20 U.S. hospitals and health care organizations have reported their data being held...more
In 2019, the Federal Bureau of Investigation (“FBI”) estimated that business email compromises, often carried out via email scams that trick businesses into making wire payments, have caused an estimated $1.7 billion in...more
Legal Cybersecurity - One of the core advantages that drives parties to arbitrate is the promise of confidentiality. Unlike public court proceedings, arbitrations provide parties with a private forum through which to air and...more
With unprecedented activity online, cybercrime is growing in frequency, sophistication and aggregate effect. Despite the increased visibility of cybercrime, cybersecurity continues to lag behind this curve. Cybercriminals...more
After the killing of Qassem Soleimani on January 3, 2020, by the U.S. government, the cybersecurity news industry has been abuzz about whether Iran will engage in cyber terrorism, and if so, to what degree, as part of its...more
By now, you’ve heard a horror story or two about ransomware. The city of Baltimore’s tale stands out. After cyber-criminals attacked the city’s servers and applications, they demanded $76,000 to decrypt the affected files....more
Artificial intelligence (“AI”) has made astounding advancements in recent years. Driven by incredible computing power, AI has the potential to change nearly every industry. AI is touted as having the potential to reduce...more
Business Email Compromise (BEC) is a growing cybercrime epidemic, with staggering losses to businesses and organizations of all sizes. BEC is a scheme in which an attacker uses fraudulent email to impersonate an executive,...more