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L Squared Insurance Agency Blog: data breach

View the latest blog posts from L Squared Insurance Agency.

As we continue to learn the depth and breadth of the Equifax Data Breach no one still knows who stole the information.  What we do know is thanks to the total lapse of controls at Equifax cyber criminals got away with Social Security numbers, birth dates, and driver’s license numbers. READ MORE >>

Given the current highly publicized SEC and Equifax data breaches that are studies in what not to do, a current article in Mondaq  gives tips on how advance planning before cyberattacks and data breaches can mitigate the overall risk. The recommended actions that need to be taken are: 1. READ MORE >>

A large health insurer found out that the window envelopes that it was mailing to policyholders were not only showing the address, but sensitive personal confidential information.  As this was done on a mass mailing to policyholders it caused a massive privacy breach for the company. READ MORE >>

The journey with Equifax continues.  A company that not only allowed 143 million customers private information to be stolen, took over 5 weeks to disclose it to the public, has now realized that it had Tweeted out to some Victims a Scam Website to get their Credit Frozen. READ MORE >>

According to CNBC someone or persons on August 21, 2017, bought over 2600 contracts with the right to sell Equifax stock for $135 a share in September.  Each contract cost the buyer 60 to 70 cents each, with the right to sell 260,000 shares in September.  Equifax shares are currently trading around $111. READ MORE >>

It has been widely reported that Equifax had over 143 million people's confidential information such as Social Security Numbers, Driver's Information, birth dates and addresses stolen.  Equifax was heavily criticized for waiting until September to announce the hack to the general public. READ MORE >>

The BBC report states over 711 million e-mail addresses have been scooped up by a spambot.  Some of the compromised e-mail addresses also contained other personal information that can be used to help phishing e-mails target your e-mail accounts.  In some cases the e-mail information stolen may also contain passwords. READ MORE >>

This appears to be a case of The Friday Afternoon Fraud that we have previously blogged about.  According to a Housing Wire post American Pacific Mortgage (APM) is suing its insurer Aspen Specialty (Aspen) for a fraudulent wire transfer that occurred in 2015. READ MORE >>

An article from the Insurance Journal, 5 Reasons Cyber Security is Failing and What P/C Insurers Can Do About it, states 5 reasons why it is not working: 1.    Common misconceptions. Most people understandably think of cyber security as an IT problem. READ MORE >>

Many people because of poor data connections or because they want to save data on their data plan are always looking for public WIFI to hook into.  Most people that use public WIFI are aware that they should never conduct confidential work over a public WIFI connection as you never know who is watching. READ MORE >>

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