Stallcup & Associates, a San Francisco accounting firm, was attacked with ransomware on July 11, 2016. Even though the malware was quickly detected, it was still able to encrypt files on a network drive.
There is no evidence that files with sensitive information on the affected server (Social Security numbers, direct deposit bank account information, W-2 and 1099 tax forms, etc.) were viewed or exported. However, because they resided on the infected drive, the firm has notified customers of a data breach. The owner of Stallcup & Associates stated in the letter to clients that “we have no words to express how devastating it is to have had this happen.”
The firm also hired a computer forensics company to clean up the malware and make IT security changes.
Furthermore, Stallcup & Associates is paying to provide affected clients with one year of free credit monitoring.
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No matter the size of your firm, CPAs and accountants should be prepared for attacks to their networks and systems. Be one step ahead of the game with cyber liability insurance coverage. Call Mitchell & Mitchell Insurance Agency today for a free cyber insurance quote at (415) 883-2525.