No industry or business is immune to a cyber-attack. Your organization, knowingly or not, has likely experienced some brush with a cyber breach, potential breach, or near miss. Cyber threats emerge and evolve quickly, making them both difficult to predict and potentially volatile to manage.

The Greek community in particular is ripe for attack due to the volume and breadth of members’ personal identifiable information (PII) that is collected and stored by organizations. A breach of this information causes not only tangible and quantifiable harm, but also reputational harm, which can take years to rebuild, and in some cases, is lost forever.

Proactive risk management can make all the difference in the event of a cyber threat or breach. With that in mind, MJ Sorority has assembled a Cyber Toolkit to help your organization engage with key leadership, employees, and members to keep your operations safe and prevent business disruption due to cyber related incidents.

Here’s a peek into what’s included:

This kit equips your team to respond efficiently and effectively in the event of a breach or cyber-attack. We hope that you use the opportunities outlined in this communication to gain valuable insights about your current cyber security and make updates where you may be vulnerable. While this kit is not comprehensive, it can certainly help inform your next steps in creating and maintaining a secure environment for your employees, members, and other stakeholders.

Through education and proactive measures, we can mitigate the risks posed by malicious actors and safeguard sensitive information in an increasingly interconnected world.

If you have any questions about the programs and resources provided by MJ Sorority and our partners, please reach out to Kit Clark Moorman at kit.moorman@mjsorority.com.

Deepfakes

With new artificial intelligence (AI) technologies emerging every day, the threat of deep fakes is becoming more prominent and more dangerous, fooling even the keenest of eyes. A deepfake is a fabricated, extremely realistic image or video that has been digitally altered to impersonate someone else. They are typically used to spread false information or trick individuals into complying with the requests of a cybercriminal.

With the ability to convincingly impersonate real people, cyber criminals are able to orchestrate highly effective phishing scams, identity theft operations, and other cyber crimes that can have huge impact on your business operations and the safety of your personally identifiable information (PII).

Learn more about the threat of deepfakes and how your organization can get ahead of cyber criminals using this technology for malicious purposes here.

Complimentary and Discounted Cyber Services for Clients

Through your CHUBB policy (check with your client executive to see if you are covered), clients have access to a selection of essential mitigation tools and advisory resources that can help reduce your exposure. From cyber incident response solutions to education and training, CHUBB has compiled a group of experts to offer their services at a significant discount, sometimes even free of charge.

You can check out a full list of offerings here and learn more through CHUBB’s eRisk Hub. In addition, we have pulled a few FAQs and basic, complimentary services that you can learn more about in this loss mitigation article.

If you have questions about setting up or logging into your eRisk account, please contact your client executive.

Malware Response

Malware, short for malicious software, refers to intrusive and harmful programs or files developed by cybercriminals to steal, damage, or destroy data. Typically hidden in files, images, malware is usually distributed through malicious websites, emails and software.

We are all vulnerable to clicking on a link or attachment that contains malware, usually inadvertently. This article helps outline the important and immediate steps you and your organization should take in the event of a malware infection.

Managing Cyber Risk

Over the last decade, cyber security has evolved from a niche concern of IT professionals to a major priority for CEOs and Boards of Directors. Company leaders are now charged with managing cyber risk with the same urgency that they have treated tradition business risk in the past.

This paper explains the different forms of cyber risk and shows how the threat level has risen in recent years. It provides a basic framework for managing cyber risk. It also poses five key questions that business leaders should ask themselves to ensure their cyber risk stance is sufficiently robust and resilient to meet evolving threats.

The MJ Companies Cyber Practice

The MJ Companies has a specific cyber insurance practice, which has also developed several resources and services for your benefit. Please see the links below to engage with some of MJ’s free resources and for information on reviewing and assessing your organization’s cyber resilience with our team of experts.

Phishing

A common form of social engineering, phishing, occurs when a bad actor communicates via email, phone or text, requesting that a recipient take action, such as click on a link or provide account information. The collected information is then used to gain unauthorized access to protected PII or other data that isn’t meant to be shared.

See this article for examples of phishing attacks. The examples provided cost the victim-companies millions of dollars, with bad actors using a combination of phishing scams and business email compromise to manipulate people into sharing PII and in turn using that information to collect funds.

Phishing attacks can be particularly problematic as hackers use our own instincts against us, gaining access to PII by a victim’s own hand. KnowBe4, a partner of The MJ Companies and CHUBB, offers phishing simulations to help train employees to be wary of this kind of attack, discounted for MJ clients. To learn more, please reach out to Kit Clark Moorman at kit.moorman@mjsorority.com.

Business Email Compromise

In today’s digital world, the growing impact of cyber-attacks have become an ever-pressing concern for businesses of all sizes and across industries. While ransom events tend to capture the brunt of media attention, Business Email Compromise (BEC)—a type of cyber-attack where hackers gain access to a business email account and trick employees into sharing sensitive information or transferring funds—is actually among one of the most prevalent and damaging.

Check out this free webinar on the topic, hosted by MJ’s Carol Scully.

ACH Transactions Language

ACH transactions are electronic money transfers made between banks and credit unions across the Automated Clearing House (ACH) network. While convenient and sometimes appropriate, you should NEVER fulfill a request to wire money from an email alone. Below are some examples of language vetted by a cyber law firm that can be helpful to include in your email signature as notice of your organization’s best cyber practices on this topic:

Data Privacy Provisions for Vendor Agreements

When contracting with third party vendors, it is important to be sure that you are reviewing contracts for appropriate data privacy provisions. Privacy provisions explain how a third party can collect, use and distribute PII and what other obligations that vendor will have with regards to the PII you share with them. See this document, compiled by CHUBB partner McDonald Hopkins, for some suggested language to look for or add to vendor contracts that addresses the handling of PII.  

Sorority Program Claim Examples

Click here for examples for the MJ Sorority program that help demonstrate the need for risk management around cyber risks.