The Source for Cyber Insurance News, Insights and Data
Federal prosecutors have charged the owner of MonsterCloud with wire fraud. The Florida ransomware recovery firm sold victims an alternative to paying criminals. Prosecutors say it paid the criminals and billed clients far more. ProPublica flagged the practice in 2019. A ransomware recovery firm told victims they would not have to pay. It paid anyway … Read more
You buy insurance for the ugly days. Then the ugly day arrives. Your claim meets an exclusion. Your “business interruption” clock runs out. Or a missed control turns into a denial. That gap is widening in cyber insurance as questionnaires grow longer and policies tighten. In the latest Cyber Insurance News & Information podcast, Executive … Read more
Fraudulent Wire Transfer: A Constant Threat It shouldn’t need to be said, but here we go. Wire transfer fraud remains a significant risk to businesses and legal teams alike. Already a successful scheme, AI enhancements to the practice seem sure to make the cons more convincing. As a result, the legal and financial exposure associated … Read more
Attorneys face rising cybersecurity threats as wire fraud schemes grow in frequency and cost. That take and further analysis courtesy of a meandering search of the internet and stumbling across this recent post from Integreon, a global provider of legal and compliance outsourcing. Their article highlights how cyberattacks like business email compromise (BEC) are targeting … Read more