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Watch Out for These Top Trends in Identity Theft

Oct 24, 2022

Halloween is a great reason to don a costume and dress up as someone you鈥檙e not, but cybercriminals don鈥檛 need that excuse. Through email scams, social media phishing, website spoofs, and other nefarious techniques, they masquerade as someone they鈥檙e not鈥攁ll in an attempt to swipe sensitive or secure information, potentially crippling your business and tallying up millions in damages. According to the FBI, cybercrime cost the United States last year alone.聽聽

October is Cybersecurity Awareness Month, and in the spirit of cyber safety, here are three email fraud and identity theft trends to watch out for:

  1. Personalized email scams. We鈥檙e much more likely to respond to messages from someone we know or take action on requests that are personalized. Social media makes it easier than ever for cybercriminals to collect personal information they can use to send targeted 鈥渟pear phishing鈥 attacks, tricking unsuspecting individuals into sending sensitive data or unknowingly installing malicious programs.
  2. Medical identity theft. With this form of fraud, someone uses your personal identification information (like your name, social security number, or health insurance number), so they can illegally receive reimbursements for healthcare services, obtain medical treatment, or purchase prescriptions and other medical equipment. These types of identity thefts have risen significantly in recent years, with the total number of cases increasing from 6,800 in 2017 to almost 43,000 in 2021
  3. Business impersonation. This type of fraud attempts to steal sensitive information (like credit card numbers, passwords, or security pins) by impersonating a legitimate business or organization.聽聽

Learn about these three types of identity theft techniques and more .

Although it鈥檚 important to put proper cyber safety measures in place, cyber coverage gives businesses the peace of mind that they鈥檙e protected against damages in the event of a data breach or attack. 麻豆放映免费鈥檚 cyber liability experts can guide you through finding the right coverage for your clients鈥 needs. Contact 麻豆放映免费 today to learn more.聽

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The 麻豆放映免费 Professional Lines Insurance Team

Whether it鈥檚 professional, management, or cyber liability, 麻豆放映免费鈥檚 experienced brokers stay on top of industry trends and one step ahead of the competition, so they can offer the best guidance to you and your clients. Armed with decades of experience, 麻豆放映免费鈥檚 dedicated professional lines team works tirelessly to navigate difficult risk placements, strict security control requirements, ever-changing market capacity, and unpredictable rate fluctuations.
Cyber Crime | cyber liability | Cyber security | identity theft | professional lines insurance

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