It's not just politicians who are trembling in their boots about the threat of hackers. Any person or organization with anything of value is a likely target of increasingly sophisticated cyberattacks.

2016 was a record year for data breaches, according to a new report by the Identity Theft Resource Center and Cyberscout (formerly IDT911). Nationally, there were 1,093 data breaches, an increase of 40 percent over the previous annual record.

A narrow majority of data breaches are the result of hacking or phishing. One of the common strategies, referred to as "CEO spearphishing," involves an email impersonating a company official requesting a colleague to deliver sensitive information or transfer money.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.