Data Security, Fraudulent Wire Transfers

Fraudulent Wire Transfers: Who Bears the Loss and How to Prevent Becoming A Victim

Wyrick Robbins Yates & Ponton LLP on 11/30/2021

Cybercriminals exploited remote work during the COVID-19 pandemic. In 2020, the FBI’s Internet Crime Complaint Center (IC3) saw a record 70% increase in the number of reported internet scams and losses exceeding $4.2...more

Beware of phishing schemes relating to aviation escrow matters

McAfee & Taft on 10/19/2020

The McAfee & Taft Aviation Group has recently seen an increase in the number of phishing schemes relating to aviation escrow matters. Phishing is the fraudulent attempt to obtain sensitive information or data, such as...more

New Case May Signal Greater Likelihood That Insurers Are on the Hook for Coverage in Phishing Attacks

Troutman Pepper on 7/31/2018

A new Sixth Circuit decision may signal an emerging trend on whether insurers must cover claims made by policyholders who fall victim to phishing scams....more

Privacy Perils: National Consumer Protection Week Fraud Reminders

Bass, Berry & Sims PLC on 3/12/2018

The Federal Trade Commission (FTC) has designated this week as National Consumer Protection Week, and has issued a report on the top frauds reported during 2017. Highlights from the report are as follows... ...more

Phishing for Cybersecurity Coverage: When is a Fraud a “Computer Fraud”?

Carlton Fields on 10/9/2015

In late June, the New York Court of Appeals affirmed a trial court ruling that there was no coverage for a health insurance company policyholder, under a “Computer Systems Fraud” rider issued by its insurer, for an underlying...more

Unauthorized Transfers Present Growing Risks for Commercial Accounts

Spilman Thomas & Battle, PLLC on 9/4/2015

Could your institution be at risk of liability for unauthorized wire transfers and Automated Clearing House (“ACH”) credit transfers? Data security breaches continue to garner headlines, and criminals continue to engage in...more