Cybercrime during COVID-19

Since the outbreak of the global pandemic and the introduction lockdown procedures we have all had to adapt in many ways. For some this will include remote working, for others, isolation and career uncertainty. One thing is certain, our reliance on online transactions and communication has dramatically increased. With this increase comes a rapid escalation in cybercrime and online fraud.

The rise in fraudulent sites advertising protective clothing and equipment has been widely reported within the media, however, the criminals have not stopped there. Countless scams have been identified involving the use of government communication branding, offering financial assistance or tax breaks relating to the pandemic and examples of fraudulent charity fund raising sites reporting to be collecting for NHS charities have been reported.

Things to look out for:

Now more than ever we need to remain vigilant and build efficient cyber security habits. The increase in online working and necessary online transactions may mean that more people than ever before are vulnerable to scams and fraudulent online activity than ever before.

• Use trusted websites and be wary of clicking on links to sites via pop ups
• Before entering payment details, ensure that the link is secure. Look for the padlock icon on the web browser
• Be aware of fake reviews and deals that seem too good to be true
• Remain suspicious of unsolicited email communication and never click on attachments unless from a trusted source
• Monitor your bank account statements and highlight any suspicious or unexpected entries with your bank or building society immediately.

Take Five

Take Five is a national campaign that offers advice to help everyone to protect themselves from preventable financial fraud. The campaign is based around the following advice:

1. Stop – Taking a moment to stop and think before parting with your money or information could keep you safe
2. Challenge – Could it be fake? It’s OK to reject, refuse or ignore any requests. Only criminals will try to rush or panic you
3. Protect – Contact your bank immediately if you think you’ve fallen for a scam and report it to Action Fraud.

Should the worst happen, Covéa Insurance is there to help. Our Executive Plus and Executive Home Products include Home Cyber Insurance as standard and our comprehensive cover includes:

• Cyber home systems damage (home systems restoration, computer virus removal, professional assistance)
• Cyber-crime (online fraud, telephone hacking, cyber ransom, identity theft assistance)
• Cyber online liability (data privacy, computer virus transmission, defamation and disparagement).

Please speak to our underwriters or visit our website for further details.

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