Cybercrime is a growing problem around the world as hackers are targeting everything from computers to cell phones stealing valuable information. One growing threat that companies and organizations need to protect against is electronic transfer theft that can occuras a result of email phishing scams in which a hacker is able to ca
This type of email phishing expedition is part of a new wave of cyber crimes in which hackers routinely troll Web sites and masquerade as a top executive, directing a subordinate to transfer a sum of money to a bank account with the instruction that it is urgent to make the transfer.
Fortunately, there is insurance for that known as Cyber Crime Insurance. It is important to note that almost all cyber insurance policies do not cover this type of incident/electronic funds transfer theft.
Cyber Crime Insurance protects an organization from loss of money and securities, resulting from theft by its own employees in several key industries. It also insures against third party related losses for forgery or alteration; on premises; in transit; money orders and counterfeit currency fraud; computer fraud; client property coverage; credit card coverage and expense coverage.