Demand rises for insurance coverage against social engineering fraud

COMMON THREAT: Normand Duquette, senior vice president at RISCO Insurance Brokerage Inc. in East Providence, says “90% of the companies we see” have been subject to social engineering fraud attempts. / PBN PHOTO/MICHAEL SALERNO
COMMON THREAT: Normand Duquette, senior vice president at RISCO Insurance Brokerage Inc. in East Providence, says “90% of the companies we see” have been subject to social engineering fraud attempts. / PBN PHOTO/MICHAEL SALERNO
Imagine wiring money to a bank account at the request of an urgent voice message or an email from your company’s CEO, only to learn that the message was a sophisticated scam that just emptied the business’s bank account. That type of scam is called social engineering fraud, and it has become a commonplace threat…

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