Imagine a cybersecurity catastrophe like this one: A pharmaceuticals maker suffers a data breach, but no data is stolen and no ransomware is deployed. Instead the attacker simply makes a change to some of the data in a clinical trial -- ultimately leading the company to release the wrong drug.
When new homeowners close on a house, there is a need for the home’s title to switch to their names. Title agencies, such as ABL Title Insurance Agency, tend to have professional liability insurance policies to protect them in the event something is amiss.
On August 12, 2022, the U.S. District Court for the District of Minnesota dismissed a policyholder’s complaint seeking a declaration that $600,000 in social engineering fraud loss fell within a crime policy’s computer fraud coverage.
The attorneys handling a $1.1 billion settlement for victims in the deadly collapse of a Miami condo say the settlement fund is inundated with fraudulent victims. A court filing written by Michael Goldberg, one of the attorneys in the case, identified 458 ‘presumptively fraudulent’ claimants out of 740 claims.
A Delaware bankruptcy judge has approved parts of the Boy Scouts of America’s reorganization plan but rejected other provisions, saying in a recent ruling that the organization has ‘decisions to make.’ One part Judge Laurie Selber Silverstein refused to approve was $250 million coming from The Church of Jesus Christ of Latter-day Saints to help settle claims alleging child sexual abuse by Scout leaders.
Faced with increasing competition, insurance providers are adding new products and offering better deals to take a slice of the $200 billion in revenue opportunity. Yet, providing an experience that meets the needs of today’s customers can prove challenging, especially when it comes to seamlessly authenticating customers.
The human accomplishments that happened before the widespread use of email are numerous. To name just a few: Pizza was invented. Mozart wrote symphonies. People built spacecraft, flew them to the moon and walked on the lunar surface.
Hackers are impersonating well-known cybersecurity companies, such as CrowdStrike, in callback phishing emails to gain initial access to corporate networks.
Mercury Insurance’s special investigations unit has discovered fraudulent claims reported for smoke and ash damage all filed by the same public adjuster.
Marriott International confirmed Tuesday that unknown criminal hackers broke into its computer networks and then attempted to extort the company, marking the latest in a string of successful cyberattacks against one of the world’s biggest hotel chains.
New South Carolina grand jury indictments have been filed against controversial insurance fraud attorney Alex Murdaugh and his alleged accomplice Curtis Eddie Smith. Murdaugh, 54, is currently in jail on a $7 million bond following more than 70 criminal charges including embezzlement, breach of trust, fraudulent intent, money laundering, computer crimes, and forgery.
A former electrician who was claiming benefits for a 2013 injury evidently forgot the internet era’s first rule of disability fraud -- don’t let anyone post anything about you on social media ever.
Americans are experiencing far more attempts to be scammed this year than in previous years, according to the first quarter report from Allstate Identity Protection (AIP). The spam people are receiving is coming from many different directions such as texts and calls.
While fraud has existed for as long as there have been companies, when changes occur in how an organization operates, new doors open for people inside and outside an organization to steal. Recent macroeconomic events involving supply chain slowdowns, flexible work arrangements and rising inflation have paved the way for a possible uptick in such crimes.
