The Olympics of Fraud

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Traveler Beware

While the Olympics are already under scrutiny for Zika, political unrest, the Olympic Park and increased street crime, the threat to travelers posed by technology should not be overlooked.  Popular sporting events are a target for attacks, and while the Olympics had always been minor in comparison to other events, since 2014 the interest has only increased.

Awareness is always the first step in preventing exposure to data. Making sure that Financial Institutions stress safety to their users abroad is critically important to security and reduced exposure to losses. Bad domains, phishing, fake lotteries (winning free tickets), WiFi security, USB charging stations, ATM Skimmers and credit card cloners are all prevalent during these events.  As outlined by SecureList, a Kaspersky Labs publication, there are real threats that are already taking place, and ways you can prevent exposure.

Steps to Protect Mobile Devices

In 2012, Martin McKeay from Akamai recommended the following tips, which still hold today:

  • Turn off WiFi, Bluetooth and NFC when not in use;
  • Never check sensitive accounts when connected to public WiFi (bank accounts, credit cards, shopping, etc);
  • If your phone offers data encryption, turn it on;
  • Don’t allow apps or subsystems to run on your device.

Some additional tips include:

  • Update your device operating system before leaving;
  • Do not accept apps or pairing from unsolicited sources;
  • Verify public WiFi signals with providers (ask the hotel for the name of their WiFi, and only connect to that available signal);
  • Keep your device protected from being stolen;
  • Use common sense with your device.

The Olympic Games are supposed to be an enjoyable experience, and preparing in advance can ensure that there is one less worry to address while enjoying.

Make Sure Your Financial Institution Clients Have the Right Coverage

Make sure your customers have the right insurance coverage from the Financial Institution experts, Berkley FinSecure.  Contact any one of us below for help in making sure your FI customers are protected!

VP Sales and Distribution
Jon Martin 410-372-6325
   Midwest Region
   Chuck Cook 913-553-8559
Northeast Region
Jeanne Shrum 207-415-4587
   West Region
   Scott Harris 512-800-5393
Mid-Atlantic/South Regions
Dave Cassel 443-987-8619
   Northwest Region
   Pete Verretto 973-775-5233


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Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.

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