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Fraudster’s have taken hacking to a whole new level! Defcon is an annual organized hacker convention in Las Vegas.  Participants gather key detailed information  from different companies in an attempt to obtain all the data points in an organization. The convention also allows hackers to share tips and show off their new developments. Some company’s claim to appreciate being exposed for their security flaws because then they are able to recognize the flaws and correct them. It is argued that companies need to be spending more money on educating employees instead of purchasing expensive firewall protective software because if employees give out any inside information, hackers will be able to pass up any firewalls or block in their way.

This article is a good lessoned learned says fraud expert Linda Webb, aka The Fraud Dog. We have not yet seen the tsunami wave that is coming of cyber fraud. Cyber Fraud Liability Insurance is a MUST for companies. Companies also need specialized investigators who can investigate these claims. Exposure to cyber fraud claims can result in huge exposure.  Data is King in the black market to organized crime rings. Stealing large quantities of data is where the new crime wave will occur. Whether you bribe internal employees, use phone scams, hackers, or use other creative resources like vendors who visit companies (i.e. daily office cleaners), are just some of the resources for which these fraudsters will attack. Be proactive! Identify any vulnerability points that you may have, set up a whistle-blower line, be sure to have proper insurance coverage for this type of claim and active the SWARM Investigative Team of Contego Services Group.

To report potentially fraudulent activity, contact Linda Webb aka The Fraud Dog, leading fraud expert at 1-855-FRAUD-DOG.

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