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Post on July 23rd, 2018

Cyber-attacks continue to plague businesses, including law firms. A recent report by NAS analyzing cybercrime indicates that 62% of the cybercrime claims were due to phishing attacks.

As noted in the report NAS Cybercrime: 2017 Claims Analysis, “Phishing involves a criminal actor who fraudulently uses electronic communications, like email or a malicious website, to impersonate a business, a representative of the business, or its brand, products or services to steal private information or money.” Phishing remains the #1 method of cybercrime because criminals have had success at exploiting a very common business practice, wiring money to a third party, to siphon funds to their own accounts.

At OBLIC, we continue to see internet scams involving check fraud and phoney wiring instructions. If there are any doubts about undertaking a representation solicited via the internet from a potential client, please do not hesitate to contact OBLIC before taking any action.

Of course, the best way to manage the risk of cybercrime is prevention. Click to read more on Preventing Fraudulent Wiring Instructions There are also resources available in the “Cyber Toolbox” on the OBLIC website to assess the risks for your firm.

If you have any questions about cyber security, please contact us at OBLIC.