21st century criminals are frequently using technology to create more sophisticated methods of fraud.
Malware and ransomware are common forms of digital crime, but more believable methods of fraud are becoming ever more prevalent.
What’s worse is the success rates of these new fraudulent activities is increasing.
Many victims of crime are cajoled into parting with hundreds (even thousands) of pounds to fraudsters pretending to be representatives from their bank or from the tax office or even from one of the company’s suppliers.
In some cases, the fraud is so believable that it is difficult to tell the difference between the fraudulent correspondence and genuine communications.
Logos, email messages and phone numbers used are extremely convincing. This combined with the urgent message contained within them compels the recipient to get in touch out of fear and panic.
What can you do to strengthen your position?
1. Arrange for a cyber vulnerability check of your systems.
2. Insure against commercial crime.
3. Keep all software and virus protection and firewalls up to date.
4. Review and improve your internal processes and staff awareness.
At Caunce O’Hara we recognise commercial crime as an area of risk that isn’t currently catered for under most insurance policies.
We can arrange a Commercial Crime insurance product specifically to address the risks that modern criminals pose to businesses and covers any direct financial loss suffered by you, the policyholder, as a result of the criminal, fraudulent or dishonest taking or appropriation of money, securities, property or funds to your deprivation, by any person.
Visit https://www.caunceohara.co.uk to get your commercial crime insurance quote today