North Carolina Personal & Business Insurance
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Hacked Bank Accounts and Insurance

DHB Insurance | August 2013

Just a few clicks away from an empty bank account.

Small Business owners have become the low hanging fruit for cyber criminals.

They have substantial assets and lack the security of large firms. Many small business owners have given little thought to protecting their computer system and often have a delay in updating the latest security software.

A good example of the risk is the Spyeye "Trojan horse" software. The software can install without you knowing just by visiting a website or viewing an email. It will monitor your activity and record your information when you log into your bank. Your login information is sent overseas and the information about your accounts is also recorded. Your money is wired overseas, but if you log back into your bank's website, it will adjust the numbers and act as if the money is still there. If it takes you too long to notice, the bank will not refund your money.

There is no substitute for solid security practices, but even the Pentagon has been hacked. Computer Fraud coverage can help protect against this type of risk.

Good examples of this risk were highlighted by the NY Times in the article linked below:

http://goo.gl/toZQs

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