Financial Professionals are targeted by Cyber Criminals

Whilst Cyber crime is often associated with money being taken from individuals computers, evidence suggests that organisations with electronic data are being targeted with insider traders looking to gain information on businesses. This focus will inevitably lead to financial advisers, lawyers and accountants being future targets.

The activity by such groups as FIN4, a group that targets email accounts of individuals privy to the most confidential information of more than 100 companies in the US has led to a tightening of data security in the states and this may lead to cyber criminals looking elsewhere.

This is a reminder to all professionals that they are privy to highly confidential information regarding their clients, and should guard against possible cyber risks. Whilst taking out a policy to insure against the risk is one possible action, it is also advisable to check your current level of cover. Consider what cover you have across your insurance policies, both professional indemnity insurance and any other policies you may have.