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Archive for month: August, 2017

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Is Spoofing Covered Under Crime or Cyber Insurance?

¬†Headlines practically write themselves these days. A company was duped into sending money to some unidentified party, be it hacker collective or nation-state or individual. Spear-phishing is not a new technique in the cyber war. In fact, it’s one of the oldest criminal techniques on the internet. Seems like only yesterday that we were all being told that a wealthy Nigerian Prince had decided to give us his fortune; all that was required was our bank account and routing info.

These days, the attacks are far less obvious (apologies to those of you that fell for the Nigerian 419 Scam) and far more nefarious. Spear-phishing attacks have become so sophisticated that even large Fortune 1000 companies are falling for them. The model is simple: find a way to impersonate a company executive and fool an employee into wiring money into an offshore account.  Read More