Cybercrime Uses Social Engineering Techniques to Steal Employee Credentials and Commit Payroll Diversion

By Rickard Jorgensen, FCII, ARM, ACIArb Recent developments clearly shows the urgent need for security awareness training. The FBI warned September 18, 2018 about new criminal campaigns that target the online payroll accounts of employees in a variety of industries. METHODOLOGIES “Cybercriminals target employees through phishing emails designed to capture an employee’s login credentials. Once […]

Post Tagged with accountants professional liability, comprehensive coverage, cyber insurance, Cyber Liability, cyber security, errors and omissions, Information Security, social engineering

Posted by Rickard Jorgensen
Posted in Cyber Liability, Cyber resources, Fraud, Phishing scams, social engineering, Uncategorized
Oct, 03, 2018
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Up in Smoke II – What’s happening in Banking?

by Rickard Jorgensen, FCII, ARM, ACIArb Although not directly connected to the practice of accounting it is useful to know what is happening in other industries. In this case in particular, we are talking about the highly controversial cannabis business. Big Tobacco and the brewing industry are watching with great interest developments at the Department […]

Post Tagged with accountants professional liability, cannabis, client screening, disengagement, errors and omissions, lawsuit, marijuana, professional liability claims, risk management

Posted by Rickard Jorgensen
Posted in Accountants' professional liability insurance, Accountants' risk management, cannabis, Client relations, Client screening, criminal behaviour, Fraud, marijuana
Sep, 10, 2018
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SEXTORTION – a new aspect to cyber crime and CPAs.

by Rickard Jorgensen, FCII, ARM, ACIArb Sextortion attacks against professional firms, including CPAs, are not uncommon and increasing in frequency. Sextortion is a form of blackmail in which sexual information or images are used to extort sexual favors or cash from the victim. The FBI offers an explantion of this new crime here. However, recently […]

Post Tagged with bad policies, cyber insurance, Cyber Liability, Information Security, sextortion, social engineering

Posted by Rickard Jorgensen
Posted in Cyber Liability, Cyber resources, Fraud, Phishing scams, risk management, security, sextortion, social engineering, Uncategorized
Aug, 12, 2018
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The 10 Worst Corporate Accounting Scandals of All Time

If there is one theme to rival terrorism for defining the last decade-and-a-half, it would have to be corporate greed and malfeasance. Many of the biggest corporate accounting scandals in history happened during that time. In acknowledgement of the excellent webinar about Fraud Detection recently offered by the CPAFMA, here’s a chronological look back at […]

Post Tagged with accountants professional liability, bad policies, claims, comprehensive coverage, coverage, CPA claims, errors and omissions, fraud, lawsuit, professional liability claims, risk management

Posted by Rickard Jorgensen
Posted in Bad policies, being sued, checklist, coverage limitations, definition of professional services, due diligence, Fraud, lawsuit, professional liability claims, risk management, Uncategorized
Apr, 08, 2018
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Does your malpractice insurance cover you for criminal acts?

A Florida CPA was sentenced in federal court in Boston for multiple counts of tax fraud and obstructing the Internal Revenue Code. Greg Takesian, 54, of Miami, Fla., was sentenced last Thursday by U.S. District Court Judge William G. Young to two years in prison and one year of supervised release, and was ordered to […]

Post Tagged with accountants professional liability, bad policies, comprehensive coverage, CPA claims, criminal acts, litigation

Posted by Rickard Jorgensen
Posted in Accountants' professional liability insurance, Bad policies, Claims, coverage limitations, criminal behaviour, due diligence, Fraud, insurance, lawsuit, policy coverage, policy wording, Uncategorized
Mar, 09, 2018
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Equifax Breach – what to tell clients

We have received a number of inquiries from CPA firms asking about what advice they can give to clients to assist them to estsablish whether a client’s Personal Identifiable information has been compromise by the Equifax breach. The following is a draft of a communication that can be modified to fit the needs of your clients here. […]

Post Tagged with accountants professional liability, client letter, Cyber Liability, cyber security, fraud, Information Security, risk management

Posted by Rickard Jorgensen
Posted in Client relations, criminal behaviour, Cyber Liability, Fraud, risk management, security, Uncategorized
Sep, 16, 2017
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The Growing Insider Threat

By LIFARS Reposted from here A security threat originating from within the organization which is targeted or attacked is an insider threat. Insider attacks are rapidly increasing and becoming more prevalent in organizations. In the past year, believe insider attacks have become more frequent. Any present or former employee who at one point had access […]

Post Tagged with accountants professional liability, CPA claims, cyber security, fraud, Information Security, risk management, social engineering

Posted by Rickard Jorgensen
Posted in Accountants' professional liability insurance, Accountants' risk management, being sued, criminal behaviour, Cyber Liability, Fraud, risk management, security
Jul, 08, 2017
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WannaCry provides a wakeup call for more training on email exploits

Originally posted May 14th, 2017 by Paul E. Paray, Esq. here. On May 12, 2017, WannaCry ransomware infections reportedly took hold of 200,000 computer systems in 150 countries. Experts have been warning against ransomware exploits for years. The recent rise of ransomware, however, has been a function of the low cost of financial data on the dark […]

Post Tagged with Cyber Liability, cyber security, errors and omissions, Information Security, lawsuit, malware, Paul Paray, professional liability, ransomeware, risk management

Posted by Rickard Jorgensen
Posted in Accountants' professional liability insurance, Claims, Cyber Liability, Fraud, Paul Paray, professional liability claims, risk management, social engineering
May, 15, 2017
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IRS Warns CPAs: Beware of Phishing

Guest bloggers from the law firm Goldberg Segala posted the following which we thought is timely and pertinent: Businesses are increasingly becoming the targets of sophisticated cyber-attacks, and professionals are no exception. When cyber-criminals breach a professional service firm, they not only may gain access to the firm’s corporate data, but also confidential information from the […]

Post Tagged with accountants professional liability, client screening, Cyber Liability, errors and omissions, risk management, social engineering

Posted by Rickard Jorgensen
Posted in Claims, Client relations, Client screening, Cyber Liability, Fraud, professional liability claims, risk management, Seth l. Laver, social engineering, Uncategorized
Mar, 09, 2017
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A Retrospective:

It’s been over a year and a half since we started posting blogs. I thought it would be helpful if this month we posted a list of the topics to allow our members to look at some of our past blogs. 10 “Get Out of Court Free” Cards – Segregation of risk in an accounting […]

Posted by Rickard Jorgensen
Posted in Accountants' professional liability insurance, Accountants' risk management, Client relations, Client screening, Coverage, Cyber Liability, D&O, File retention, Fraud, insurance, Mediation, mergers, Ralph G. Picardi, Seth l. Laver, Thomas FGalkenberg, Uncategorized
Apr, 20, 2016
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Category Archives: Fraud

Up in Smoke II – What’s happening in Banking?

The 10 Worst Corporate Accounting Scandals of All Time

Does your malpractice insurance cover you for criminal acts?

Equifax Breach – what to tell clients

A Retrospective:

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