The COVID-19 outbreak has ignited a frenzy of scamming attempts as about 90% of Americans are ordered to stay at home and are navigating how to work remotely and keep themselves and their loved ones safe. Our recent bulletin discussed attempts bad actors are using to try to steal personal information through email phishing attacks and ransomware, as well as efforts to ransack bank accounts through donations to fake charities and orders for goods that never arrive. Government officials warn
Continue Reading COVID-19 Bulletin: Avoiding Stimulus Check Scams as CARES Kicks In

According to the FBI, billions of dollars are lost every year repairing computer systems and networks hit by cyberattacks like ransomware. The 2019 Internet Crime Report notes that in 2019 alone, the FBI’s Internet Crime Complaint Center received 467,361 complaints of cybercrime with reported losses exceeding $3.5 billion. While the number of ransomware attacks has declined sharply, the amounts demanded in such attacks has increased. For example, BleepingComputer recently reported seeing ransom notes for the Ragnar Locker ransomware, which targets software commonly used by managed service providers, with demands ranging from $200,000 to about $600,000.

Some insurers selling cyber insurance offer to pay a ransom demand, which theoretically should allow the policyholder to get their data back. But what happens if you don’t have cyber insurance or the funds to pay the ransom? What if you pay the ransom and the criminals renege? If your computers and network are slowed but otherwise operable, will your traditional business owners’ insurance policy pay to replace the damaged computers and network?


Continue Reading Business owners’ insurance policy required to pay for computer damage from ransomware attack

A new cyberattack, that is very similar to the WannaCry ransomware virus, is spreading across Europe. Taft’s Technology group is closely monitoring the situation and has prepared the following short summary of questions and answers about ransomware attacks, which in effect locks out users from accessing their files unless a ransom is paid via bitcoin.

Q: I have been hit with a ransomware attack, what are my options?

A: You can pay the ransom with the hopes of getting your
Continue Reading Q&A: Ransomware Attack