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As anticipated at the onset of the COVID-19 pandemic the industry has seen a significant uptick in cyber fraud in the last month and a half. The FBI recently cited an average number of 3,000 to 4,000 daily complaints about online scams compared to approximately 1,000 prior to COVID-19.
Cyber criminals are opportunistic and taking advantage of companies at their most vulnerable. This is a result of the following unique risk factors that have been heightened with the rapid shift to remote working arrangements:
The threat actors are primarily exploiting these vulnerabilities using phishing emails preying on the fears and curiosity around COVID-19. Examples of these emails include messages doctored to look like a company’s purchase order for supplies like face masks, Clorox wipes, and hand sanitizer messages manipulated to look like updates from governmental organizations like the World Health Organization.
In order to mitigate these threats we are recommending the following steps to protect your organization.
There are also a number of potential insurance coverage implications and long term market ramifications that we are closely monitoring.
Below you will find a webinar we recently hosted on Securing the Remote Workforce. To see full slides click here.