Cyberattack. Cyberpirate. Cyber spying. Cyberfraud. Cybercrime. Financial cybercrime. Cyber burglary. Internet fraud. Cyber identity theft. Cybersecurity. Cyber risk.
None of these terms existed 40 years ago.
Today, these terms can no longer be ignored. Organizations in all sectors are affected. Governments, financial institutions, stock exchanges, Facebook, credit card issuers, Equifax, multinationals, SMEs, airports, nuclear power plants, hotel chains, hospitals, etc. are all prime targets for cybercriminals.
The data breach at Desjardins Group shocked the industry and sounded the alarm, prompting other financial services and insurance industry players to assess the vulnerability of their internal and external security systems. Some firms probably realized that they needed to take action and enhance their protection measures.
In October, UV Insurance held a forum on cybercrime. More than 75 insurance experts, including the life insurer’s rivals, gathered together to discuss the toll that cybercrime might take on the insurance sector.
Here is a rundown of the topics discussed, along with solutions to bolster the industry’s protection against the gamut of threats.
