In a previous post, we explored what your financial institution should do immediately after a cyber-attack occurs. While this is the worst case scenario for any business, taking prompt steps to identify and manage a breach are the first steps to a speedy recovery. In addition to protecting your operation with a Cyber Liability Insurance program, consider this information to detect how the breach occurred to prevent future attacks.
Email phishing refers to a method used by malicious actors to access sensitive business information by pretending to be a trusted organization or website. Phishing attempts are growing in number and it would be an understatement to note that employees need to practice safe email protocol and should be careful when clicking on online links from unknown sources or opening email attachments. And it almost goes without saying that employees should never respond to such emails as any response validates the recipient email address which might lead to continued attacks, says Huffington Post.
It should also go without saying that your employees should be mindful of safe web browsing practices. Warn them to never click on pop up ads, but rather they should close them immediately instead. Clicking on one of these could infect your network with malware or spyware. If any of these pop ups were identified as of late, this could be the source of the breach.
Ask any of your employees if they received a notification that their passwords have been changed. If they didn’t initiate this change, it’s a red flag.
An unusually slow network could be a sign that it’s infected with malware or spyware. For example, a hacking attempt or malware outbreak often results in spikes in network traffic that can reduce internet speed. Employees should inform the IT security department when they face substantially slower than normal network speeds, states the article.
Since 1983, Financial Guaranty Insurance Brokers has distinguished itself as a provider of Professional Liability, Cyber Liability, and Crime insurance products for financial entities. A BPL policy offers banks, their executives and employees coverage for alleged errors or omissions in professional services rendered to customers. Financial Guaranty Insurance Brokers (FGIB) can provide you with this policy and customize the coverages you require to address your operations and the services you offer. For more information about our products, we invite you to contact our experts today at (626) 793-3330.