April 16, 2018 by Staff
Cloud-based office solutions are becoming an increasingly popular target among cyber criminals, according to the latest Beazley Breach Insights Report.
The majority of incidents involving compromised business email accounts reported to the specialist insurer’s breach response services team during the first quarter of 2018 involved companies using cloud-based programs. Beazley says a large majority of these attacks involved businesses using Microsoft Office 365.
These hack and malware breaches represented 13% of the incidents reported to Beazley from January through March. The sectors most affected were financial services, healthcare and professional services.
“The number of compromised email accounts is accelerating but simple steps such as frequently changing passwords, having dual-factor authentication and removing auto-forwarding or auto-delete rules can help reduce vulnerabilities,” said Katherine Keefe, global head of Beazley Breach Response Services.
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This story was originally published by Canadian Insurance Top Broker.