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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Fraudulent Wire Transfers – the latest word

by Rickard Jorgensen, FCII, ARM, ACIArb. In the past few years we have seen quite a few of these costly and tragic situations and paid a number of claims made against our CPA firm and investment professionals clients. The essence is that a CPA or adviser (or Trustee) is induced by a trick, artifice or […]

Post Tagged with accountants professional liability, bad policies, claims, Cyber Liability, cyber security, fraud, Fraudulent Wire Trasnfers, risk management, social engineering

Posted by Rickard Jorgensen
Posted in coverage limitations, Cyber Liability, Cyber resources, Cyber risk management, Data protection, Fraud, Fraudulent Wire Transfers, Phishing scams, social engineering, Uncategorized
Feb, 08, 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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Comparing Cyber Insurance Policies

I know this is a little off topic as regards CPA professional liability insurance but cyber attacks are increasing in frequency and size (dollar value). At least monthly (and some times more) we receive calls from panicked firms because of a cyber attack. Good risk management is the best way to reduce the impact of cyber […]

Post Tagged with accountants professional liability, breach notification, cyber extortion, cyber insurance, Cyber Liability, cyber policies, cyber security, social engineering

Posted by Rickard Jorgensen
Posted in Cyber Liability, Cyber resources, Phishing scams, policy coverage, policy wording, prior acts coverage, social engineering, social media, Uncategorized
Jun, 06, 2018
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QBE Cyber Resources – eRiskHub.

A recent report from Netdilgence highlighted the increasingly difficult cyber risk environment for by business. A copy of the paper is available here. CPAGold™ members have access to a broad range of cyber risk services. One of the most useful is the substantial support and resources provided by eRiskHub. eRiskHub offers a range of tools and information […]

Post Tagged with comprehensive coverage, Cyber Liability, cyber security, malware, professional liability, professional liability claims, ransomeware, risk management, social engineering

Posted by Rickard Jorgensen
Posted in Cyber Liability, Cyber resources, insurance, Phishing scams, risk management, security, social engineering, social media
May, 02, 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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W2 Phishing scams

What has become a common feature of the post-Holiday season is the W2 phishing scam. This is a sophisticated social engineering attack to dupe clients’ payroll and HR departments into providing W-2 data on employees, to enable the crooks can file fraudulent tax returns. For several years, these criminals have been the cause of identity […]

Post Tagged with accountants professional liability, Cyber Liability, cyber security, errors and omissions, Phishing, risk management, social engineering, spoofing

Posted by Rickard Jorgensen
Posted in Accountants' professional liability insurance, criminal behaviour, Cyber Liability, lawsuit, Phishing scams, risk management, security, social engineering, Uncategorized
Jan, 04, 2018
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