Category Archives: Identity Theft / Privacy

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Commercial Lenders Take Note: Insurance May Not Cover Fraudulent USDA Guarantees for Business & Industry Loans

A Wisconsin federal court recently held that forged USDA loan guarantees did not trigger coverage under a bankers blanket bond held by Wisconsin-based Citizens Bank, resulting in a $15 million loss to the bank. Atlantic Specialty Insurance Co. issued the bankers blanket bond to provide coverage for losses stemming from certified securities or corporate, partnership … Continue Reading

IRS Releases Guidance on Taxability of Identity Protection Services

As companies and governmental entities increasingly do business and store sensitive information in online or cloud-based environments, the risk of improper disclosure continues to grow. The unprecedented breach of the United States Office of Personnel Management’s (OPM) system, in which the personal data of more than 22 million individuals was stolen, was a topic of … Continue Reading
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