As the world of technology grows more interconnected, it also ushers in the increasing danger of cyber threats.
Presented by Maria Carrisa Sanchez for TechRepublic Premium, the main aim of this document is to define the rules and terms that the organization offers to its employees to cover losses resulting from incidents related to cyberspace.
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Cybercriminal Activities
To counter the rising cyber risks, the organization will compensate for financial losses caused by different forms of illegal activities in the cyber domain to minimize the potential harm to the company. This involves:
Repayment for financial setbacks due to illegal entry into bank accounts, deceitful wire transfers, or other manipulation of finances done by online criminals.
Deficits arising from dishonest actions performed by cyber offenders, such as fraudulent transactions like unauthorized purchases carried out using stolen credit card data or infiltrated accounts.
Expenses linked with executing a detailed investigation to ascertain the origins, techniques, and extent of the unlawful activities. This entails engaging cybersecurity specialists, digital forensic examiners, and other experts to gather proof and identify the culprits.
Legal fees accrued while pursuing criminal charges against online attackers or guarding against legal actions arising from cybercrime-linked events. This incorporates fees for lawyers, legal proceedings, and other fees related to examining, indicting, or protecting against cybercrime accusations.
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TIME SAVED: The development of this content demanded 20 hours dedicated to writing, revising, and investigating.
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