You’ve been hacked! These are three words that we dread in our society of technology dependency. In 2018, billions of people were affected by data breaches and cyberattacks. USA Reports that 765 million people were hacked in the months of April, May and June alone – with losses surpassing tens of millions of dollars. Security experts project cybercrime damages to hit six billion dollars annually by 2021, hence the increasing need for cyber liability coverage.
In 2016, cybercriminals hacked three billion Yahoo accounts in one of the most significant breaches of all time. The same year, Uber reported that hackers stole the information of 57 million drivers and riders. In 2018, My Fitness Pal notified 150 million users of a security breach.
Cybercrime is any crime that takes place online; including security breaches, identity theft, revenge porn, financial crimes, malware, and ransomware. Cybercriminals may hope to harvest data and gain administrative rights to an account, or their intention may be to disable the targeted computer.
Cyber threats are constantly evolving, but the most common threats include:
Malware: Software designed to cause damage to a single computer, server, or computer network. Viruses, worms, and trojans are all varieties of malware, distinguished from one another by how they reproduce and spread. These attacks can allow the attacker to access the system remotely or disable the computer.
Man in the middle: Cybercriminals secretly get between the user and web service. A criminal sets up a Wi-Fi network with a login screen designed to look like Amazon, an airport connection, or a hotel website. When the client logs in, the criminal can see the information the user sends including passwords and credit card information.
Phishing:Attackers create persuasive emails aimed at tricking someone into taking a harmful action, such as going to a fake website asking for sensitive information. Clients may be asked to download an important document that contains malware. Attackers are getting skilled at making more sophisticated and legitimate-looking sites. Phishing crimes increased by almost 300% in 2018 and continues to be the most prevalent cybercrime technique.
8 Steps to Help Your Client Increase Online Security:
Keep software and apps updated. Software and app programmers work relentlessly to alleviate any weak security spots in their programs.
Look for SSL Certification when purchasing online. If a URL begins with https:// or has a lock icon, it is considered secure.
Update your security software regularly.
Use complex passwords that incorporate at least ten letters and symbols. Do not use the same password on multiple sights. Engage a password management app to keep tabs on your passwords.
Don’t open unsolicited email, duplicate friend requests, or video invitations.
Manage social media sites using all available security settings. Don’t overshare.
Avoid public Wi-Fi sites when possible. Do not use them for secure information such as financial transactions or credit card transactions.
Work offline when you don’t need an internet connection. Log off or lock your computer when you step away.
Cyberattacks are on the risk and Risk Innovations can help. Our Personal Lines carrier partners offer comprehensive cyber liability and protection; covering digital content, unauthorized charge reimbursements, identity theft protection, data restoration, and much more. Are your clients protected?