Most companies today opt to distribute their employees’ W-2 tax forms electronically; either through email or some type of download service. Because these forms contain a good deal of Personally Identifiable Information (“PII”), such as name, address, social security number and salary information – cyber thieves are using several simple, yet, tried-and-true methods to fraudulently obtain them.
Organizations today must regard cyber breaches not as a possibility, but as an inevitable fact of life. In this environment, it’s crucial to have a cyber liability insurance policy that adequately covers the potential loss and offers payment or reimbursement for response costs. Understanding what’s covered by the policy well before a breach occurs and building that knowledge into your company’s incident response plan is critical.
2016 was a big year for ransomware. It saw a massive increase in ransomware events and payouts to criminals, which, most experts say, only exacerbates the issue.
A 2015 report by the Herjavec Group (an Information Security company) noted that the total cost of ransomware reached $1 billion in 2016. With new “strains” of ransomware spreading worldwide (such as the Russian “spora”), we should all be on high alert for this business-impacting cyber threat.
As the world focuses on the outcome of the contentious Presidential race between Trump and Clinton, the US government is on high alert for potential Election Day cyber attacks. The current global cyber climate, this summer’s Russian hack of the Democratic National Committee, and a recent string of Distributed Denial of Service (DDoS) attacks have intelligence officials highly concerned that cyber event(s) could seriously infringe on today’s election process.
Topics: Breach of Security, Cyber Breach, Cyber Insurance, Cyber Risk, Cyber Security, Data Breach, Election Day Cyber Alert, Election Day Cyber Attack, High Alert Election Day Cyber Attack, Risk Management Blog
With the Presidential Election only days away, the question remains: Will the election be hacked? In this case, a cyber breach can lead to two major issues. The first is stolen data of registered voters; the second issue and perhaps the more frightening one – manipulation of the election results.