Here is how they get worse in 2017
I am dismayed by the recent rise in claims involving cyberattacks, particularly email hacking. We take it for granted that our emails are secure and happily provide bank account details to our lawyers, financial planners, estate agents, accountants etc by email.
We never suspect that someone is monitoring our emails and at the appropriate moment, without our knowledge, will either hijack our email address or utilise a strikingly similar address to change our instructions and redirect money into their own accounts.
Or the client who was approached to provide training services to a “foreign corporation”. He quoted $20,000 and the next day found that the corporation had transferred $30,000 to his account.
When he enquired after the extra money, he was told it was to cover the cost of accommodation and travel for the staff attending the training sessions and the money was to be transferred to a nominated account for that purpose. The client duly transferred the funds to the nominated account.
A week later, the client was contacted by a fraud investigation team based in Florida and informed that the money he received had been stolen. They demanded repayment of $30,000. He only had $20,000 to return.
So I read with interest the article by Justin Fier of Darktrace (below) about the future of cyberattacks. Pretty scary stuff!!