As cyberattacks are an increasingly large problem, the need for cyber insurance as a means of protection is more important than ever before.
Cyber insurance, also known as cyber-liability insurance, is a policy to help protect organizations from the fallout of cyberattacks and hacking threats. The insurance can help minimize business disruption and potentially cover some of the financial cost of dealing with and recovering from an attack.
Any business with an online component, that sends or stores electronic data, or relies on technology to conduct its operations, could benefit from insurance. Cyber criminals could attempt to break into a network and steal personal data belonging to customers or staff, intellectual property, or sensitive financial data. The most common claims are made from ransomware incidents, fund-transfer fraud attacks, or business email compromise scams.
The cost and coverage of an insurance policy may vary depending on several factors: the size of the business, annual revenue, industry, type of data, and the overall existing security of the network. The policies are designed to cover the costs of security failures like data recovery and system forensics, as well as potential legal defense or customer reparations.
While cyber insurance does not cover every instance of attack possible, and will not instantly solve all of your cybersecurity issues, it can help when you need it the most. To learn more details about the importance of cyber insurance, visit here.
As many of us continue working from home in the new year, we are likely still depending on Zoom for video meetings.
There are multiple best practices to follow and different security features and settings you can enable to bolster user and meeting security. Some of the features you can use to secure your meetings include allowing only signed-in users to join, enabling the Waiting Room, locking the meeting, reporting any users or removing unwanted or disruptive participants, and enabling End-to-End Encryption. You can also secure your own account by enabling single sign-on (SSO) and two-factor authentication (2FA).
Some overall common best practices for Zoom usage include setting up automatic updates, and designating a security contact to receive communications about security updates. Zoom now offers a Zoom Security Basics course in their Learning Center; this is a free platform designed to educate and empower Zoom users to confidently use Zoom.
To learn specific details about the features and best practices, you can visit here for more information.
QuickBooks Payment Scams
Small and mid-size companies often use Intuit’s QuickBooks program; the easy to use accounting program also has other complimentary add-on features. Phishing criminals are using the program’s popularity to send business email compromise (BEC) scams.
The emails appear to come from a legitimate vendor using QuickBooks, but the invoice, if paid, will be paid to the scammer. The payment request also has the potential to require the payee to use ACH or the automated clearing house method. This means the payee would input their bank account details essentially giving the criminal this sensitive and personal information.
While fake payment emails look very similar to the real and legitimate ones, there are a few red flags to be aware of. One area to check is the actual company the email is coming from and if you recognize it. Another is hovering over the ‘review and pay’ button to inspect the underlying URL and its legitimacy.
For additional details and tips on spotting a fake email versus a real one, visit here.