Think your cyber liability insurance will protect loss of funds? Read the fine print.
Perhaps the only thing worse than falling victim to a business email compromise or CEO fraud that results in millions of dollars in wire fraud theft is wondering whether your insurance will cover any of the loss.
Take Ubiquiti Networks Inc., for instance. The networking firm disclosed in August that cyber thieves recently stole $46.7 million using a growing scam in which cyber criminals spoof emails from executives at their company in a bid to initiate unauthorized international wire transfers.
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