Online Shopping & Cyber Security

There are many great deals to be had this holiday season, but consumers may not be the only ones looking to take advantage of the online sales. Online shopping and deal hunting can be exciting but Carbon Black’s Threat Analysis Unit report reveals that just last year there was a 57.5% increase in attempted cyberattacks during the holiday shopping season.

Online shopping related cyberattacks can come from a variety of sources such as phishing campaigns and malware. The good news is that most can be avoided with some preparation and forewarning. Many of these attacks are disguised in your email inbox. You should be careful when opening emails for free gifts or missed packages. Often times emails will appear to be from a large company requiring you follow a link to receive your “gift”. The link can result in malware or ask you to input your personal information, credit card information, etc. It is important to take precautions when online shopping and make sure your information is safe. Some things can’t be avoided however, in which case you can purchase identity theft insurance coverages.

Cyberattacks can also affect your business. Cyber criminals will often attack businesses in search of customer information, including but not limited to: names, physical addresses, email addresses, and credit card information. If your business suffers a data breach, you may often be on the hook for reporting expenses, data recovery expenses and damages. Thankfully, cyber insurance exists to protect business owners from these debilitating expenses and get your business back on track.

If you have any questions or concerns about your exposure to cyber risks, feel free to contact one of our insurance broker representatives who can help you find out more about the insurance options available to you. Call (416) 494-1268 or email info@pacins.ca.