Lax Cyber Security Could Be Federal Law Violation, SEC Warns

Article 0 Comments Public companies that fail to tighten their cyber security controls could be violating federal law, the U.S. Securities and Exchange Commission (SEC) said on Tuesday. The regulator’s warning came in the form of a report on its investigation to assess whether nine companies that had been victims […]

Business Email Attacks on the Rise; Office 365 Users Hardest Hit: Beazley

Article 0 Comments Attacks targeting business email accounts continued to climb in the second quarter. Hardest hit were organizations using Office 365, the popular cloud-based product, according to data released by specialty insurer Beazley. Email compromises accounted for 23 percent of incidents reported to the Beazley Breach Response (BBR) Services […]

Travelers Seeks Review of Court Ruling on Crime Insurance Loss Involving Email Fraud

Article 0 Comments Travelers Insurance is seeking a full Sixth Circuit court reconsideration of its three-judge panel ruling that said the insurer’s crime insurance policy’s computer fraud clause covered a loss due to money transfer involving fraudulent emails. In seeking an en banc review or rehearing, Travelers argues that the […]

Court Finds Travelers Crime Policy Covers Money Transfer Loss Due to Email Spoofing

Article 0 Comments For the second time in about a week, a federal appeal court has sided with a commercial policyholder where the insurer denied coverage under a computer fraud provision of a crime insurance policy for a money transfer involving fraudulent emails. The Sixth Circuit appeal court found that […]

FBI, International Law Enforcement Disrupt Business Cyber Fraud Schemes

Article 0 Comments Federal law enforcement officials announced a significant coordinated effort to disrupt Business Email Compromise (BEC) schemes used to intercept and hijack wire transfers from businesses and individuals, including senior citizens. The effort has culminated in 74 arrests, including 42 in the United States and 29 in Nigeria, […]