Equifax breach settlement

by Rickard Jorgensen, FCII, ARM, ACIArb. You may recall that in September 2017 we reported on the data breach suffered by the national credit reporting agency. Go here for the article. According to Reuters — Credit reporting company Equifax Inc. will pay up to $700 million to settle U.S. federal and state probes into a […]

Post Tagged with accountants professional liability, credit agency, cyber insurance, Cyber Liability, Data breach, equifax, Information Security, malware, risk management

Posted by jorgcpa
Posted in Cyber Liability, Cyber resources, Cyber risk management, data breach, Data protection, equifax, Phishing scams, professional liability claims, risk management, security, Uncategorized
Jul, 22, 2019
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Data Breach and Insider Trading

CPAs practicing in mergers and acquisitions are familiar with the sensitive nature of their work and the potential for abuse of the information obtained. In addition to the conflict of interest created by trading on that information themselves, they must take extensive precautions to ensure that they do not allow that information to slip to […]

Post Tagged with accountants professional liability, corporate transaction, Cyber Liability, cyber security, Data breach, fraud, Information Security, Insider trading, mergers, professional liability, risk management, Seth L. Laver, social engineering

Posted by Rickard Jorgensen
Posted in Accountants' professional liability insurance, Client records, Client relations, Cyber Liability, Cyber resources, Cyber risk management, Data protection, Fraudulent Wire Transfers, policy coverage, risk management, security, Uncategorized
Mar, 11, 2019
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How To Protect Your Accounting Firm From a Cyber Attack

By Nick Matarazzo A data breach can wreak havoc on your business and its reputation. Not to mention the fines incurred and countless hours you will spend reviewing your computers and the source of the threat. Research suggests that 90% of cyber attacks stem from a phishing or social engineering attack. Educate your employees about […]

Post Tagged with bad policies, cyber insurance, Cyber Liability, cyber security, Information Security, ransomeware, risk management, social engineering

Posted by jorgcpa
Posted in Cyber Liability, Cyber resources, Cyber risk management, Data protection, policy coverage, policy wording, risk management, security, sextortion, social engineering, social media, Uncategorized
Dec, 14, 2018
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SOCIAL ENGINEERING/WIRE TRANSFER FRAUD – A NEW TWIST ON AN OLD SCAM.

by Rickard Jorgensen FCII, ARM, ACIArb. As we discussed in prior postings, social engineering is a major problem for CPAs. Go to: here for risk management advice and here for coverage details Social engineering is a deception to manipulate individuals into carrying out a particular act, such as transferring money, handing over confidential information or […]

Post Tagged with accountants professional liability, cyber insurance, Cyber Liability, errors and omissions, Information Security, malware, professional liability claims, ransomeware, risk management, social engineering

Posted by Rickard Jorgensen
Posted in Bad policies, Cyber Liability, Cyber resources, email risk management, Phishing scams, risk management, security, social engineering, Uncategorized
Nov, 13, 2018
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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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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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Best Practices to Keep Your Firm’s Accounting Software Secure

By guest blogger – Ella Watson. Data is one of the most valuable commodities today. Aside from being used by companies as basis for all kinds of business strategies, it is also what powers most of today’s transformative technologies, such as artificial intelligence, automation tools, and analytics. With big data’s growing importance, several strategic processes […]

Post Tagged with accountants professional liability, comprehensive coverage, cyber insurance, Cyber Liability, cyber security, errors and omissions, fraud, Information Security, malware, risk management, software

Posted by Rickard Jorgensen
Posted in Uncategorized
Jun, 21, 2018
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Your Malpractice Insurance Policy May Not Cover You for Fraudulent Wire Transfers

by Rickard Jorgensen, FCII, ACIArb., ARM Back in July 2017 we posted a blog about a protocol to minimize the possibility of a social engineering claim (Go here for the posting). This topic has become of interest to CPAs as the number of spoofing claims has increased. A recent posting on the KnowBe4 website (go here […]

Post Tagged with accountants professional liability, bad policies, claim, comprehensive coverage, cyber insurance, Cyber Liability, cyber security, Information Security, lawsuit, malware, professional liability, social engineering

Posted by Rickard Jorgensen
Posted in being sued, Claims, Coverage, coverage limitations, Cyber Liability, insurance, lawsuit, Phishing scams, policy coverage, professional liability claims, social engineering, Uncategorized
May, 02, 2018
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New Media Communication and Professional Liability Insurance

by Rickard Jorgensen, FCII, ACIArb., ARM Last week we received an inquiry from a CPAGold™ member firm regarding text messaging with clients. After discussions with Ralph Picardi the risk consultant for the CPAGold™ program and outside counsel, the consensus was use of texts to communicate with clients is not effective risk management practice. The problem […]

Post Tagged with accountants professional liability, client communication, cyber security, documentation, errors and omissions, Information Security, social media

Posted by Rickard Jorgensen
Posted in Accountants' professional liability insurance, Accountants' risk management, client communications, Client relations, file documentation, insurance, lawsuit, social media, Uncategorized
Dec, 04, 2017
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Today’s Cyber Nightmare.

by Rickard Jorgensen, FCII, ACIArb., ARM. You could lose many, many hours of sleep if you read every one of the cyber articles that are being aimed at CPAs right now. However, if you haven’t thought about the risks to your firm from cyber attacks the insomnia is probably well deserved. A recent article in […]

Post Tagged with cyber checklist, Cyber Liability, cyber security, Information Security, malware, risk management, social engineering

Posted by Rickard Jorgensen
Posted in checklist, Cyber Liability, risk management
Nov, 08, 2017
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Equifax breach settlement

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