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Business Email Compromise
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A German Court has ordered pain and suffering damages as a result of a data breach, the first decision of its kind in Europe. According to the judgment, Scalable Capital has to pay the plaintiff, represented by consumer...more
In this month's edition of our Privacy & Cybersecurity Update, we examine California's new sweeping privacy law, two U.S. agencies' report on "botnet" threats and the European Parliament's call to suspend the Privacy Shield....more
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
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
In the last few weeks, we have seen yet another widespread ransomware attack that hit nearly one hundred companies around the world. It reminded me of a recent request from a client, made just after news broke of the...more
As previously highlighted, in early February, the IRS issued a warning to all employers regarding the resurgence of a W-2 based cyber scam. Since the IRS warning, this type of scam has taken numerous victims. On February 15,...more
Businesses should take steps to protect usernames, email addresses, passwords, and security questions and answers. A key issue in determining whether notification is required following a data breach is whether...more
The coverage landscape for “Business E-mail Compromise” (BEC) scams remains somewhat tenuous, as organizations and carriers continue to battle in court over the extent of coverage. Although recent positive,...more