Social Engineering Fraud, also called email piracy or Business Email Compromise (BEC), is hard to prevent because it is based on deception (see here and here). While comprehensive protection is available within some Cyber Risk Insurance policies (also called Data Breach, Privacy and Network Security insurance coverage), a strong prevention program is also important. Here are a few prevention tips along with the sources: From our prior post, Tips for Preventing Email Piracy: Be suspicious of requests for secrecy or quick action Utilize a two-step verification process Know your customers & vendors From Chubb’s Guide to Preventing Social Engineering Fraud: It is essential that employees across an entire organization be educated and trained on how to detect and prevent this...
Follow our page in Facebook "Insurance Online". from Specialty Insurance Blog
