A staff member of a mid-size CPA firm logged into a public wi-fi network at a coffee shop and spent the morning working on firm files while on the public network. A few days later the employee received an email message from a hacker stating that a ransomware attack had encrypted all of the firm’s files and that all of the files would remain encrypted until a ransom of 2.5 Bitcoin (about $10,000) had been paid.
More than 900 CAMICO policyholders responded to a survey recently regarding the COVID-19 pandemic impacts on CPA firms. CAMICO conducted the survey to learn more about how policyholders are being affected by the crisis and what they view as their top challenges. The survey also included comment boxes for participants to express their feedback, priorities and perspectives to CAMICO.
Highlights of the survey include:
- Almost 80% of respondents had assisted their clients with EIDL or PPP loan applications.