As businesses are spending millions of dollars on technology and software to protect themselves from cybercrimes, they may be missing a leading cause of cybercrime by not investing their money in training their own employees. 

Human error is the leading cause of cybercrimes, according to BakerHostetler's 2016 Data Security Incident Response Report. Some of the most prominent companies learned that all too well in the last calendar year, as costly mistakes by their employees left their business vulnerable to hacks.

In the spring of 2016, Snapchat was the victim of a phishing scam, where hackers posing as the CEO convinced an employee to email them the personal information — IRS Form W-2 data — of about 700 current and former employees of the organization. This included employee names, Social Security numbers, wages, stock-option gains and benefits.

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.