JLT launches “social engineering” fraud policy
Broker said move comes after demand for the cover from businesses.
JLT Specialty (JLT) has launched a Crime and Social Engineering (CASE) insurance policy which it said followed a rise in businesses asking about the availability of such cover.
The broker detailed that just as cyber-attacks are growing so social engineering fraud impacts businesses globally affecting all sectors and sizes of companies.
JLT listed that social engineering fraud involved fraudsters persuading employees to make significant payments, working around internal controls and processes.
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