Increase in scamming methods as ransomware frequency decreases- CFC’s Lindsay Nelson

Cyber development leader at CFC Underwriting, Lindsey Nelson, has warned the insurance industry not to ignore other ways of scamming as ransomware decreases in frequency yet still dominates the headlines.

Nelson told Insurance Age that whilst the cyber market focuses heavily on ransomware, data has shown that in the UK criminals are using a variety of attack vectors to gain access to funds or cause operational disruption.

She added: “At the CFC Cyber Forum, we spoke about how lucrative theft of funds have become in the wake of a decrease in frequency of ransomware attacks. It is essentially because criminals are following the very simple mantra of doing what’s easy, doing what’s safe. And by