Ransomware is a form of malware that encrypts a victim’s files so that data cannot be accessed. The attacker then demands a ransom from the victim in exchange for restoring the data. Some of the more aggressive forms of ransomware exploit security holes in operating systems, infecting computers without the need to deceive users. One such security vulnerability is BlueKeep, discovered in May 2019 to be affecting older versions of Microsoft Windows.
We recently explored the subject of business email compromise, a form of cyber-crime. If you decided the topic was not relevant because you don’t run a business reliant on IT systems then we would urge you to read on, because cyber-crime is becoming increasingly prevalent in many industries, including lift engineering and construction.
Cyber-crime that results in bank transfer fraud, data theft and phishing attacks can be devastating for a business, resulting in reputational damage and significant costs in terms not just of lost funds, but in the time and resources needed to repair the damage. But there are ways of reducing the risks. Let's explore them.
2018 was a busy year for cyber-attacks and data breaches: it’s time to make sure your business doesn’t get caught out in 2019 by checking your policies to ensure you are covered for everything you believe could pose a risk within your business. Remember: cyber crime insurance is NOT usually covered on a commercial combined policy.