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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Coverage for Theft of Clients’ Commercial Information.

by Rickard Jorgensen, FCII, ARM, ACIArb. There has been a lot of publicity about hacking attacks on CPA firms. Most recently, the big four CPA firms have been targeted by a sophisticated hack that compromised communications, documents and plans of some of their biggest clients. An article in The Guardian newspaper described an attack on […]

Post Tagged with client records, coverage, Cyber Liability, cyber security, errors and omissions, Information Security, professional liability claims, risk management

Posted by Rickard Jorgensen
Posted in Accountants' professional liability insurance, Accountants' risk management, Client records, Client relations, Coverage, Cyber Liability, security, Uncategorized
Nov, 08, 2017
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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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Tag Archives: Information Security

Best Practices to Keep Your Firm’s Accounting Software Secure

Coverage for Theft of Clients’ Commercial Information.

Equifax Breach – what to tell clients

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