News & Analysis as of September 25, 2024

Cybersecurity › Fraudulent Wire Transfers › Cyber Crimes

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

Defending Your Law Firm Against Cyber Threats

Guidepost Solutions LLC on 4/9/2024

In an increasingly digitized world, law firms are prime targets for sophisticated cyber threats that can result in substantial financial losses and reputational damage. Recently, a prominent law firm, esteemed for its...more

Escrow Agent Found 100% Liable for Wire Transfer to Cybercriminal/Imposter

Lewis Roca on 4/13/2023

The Arizona Court of Appeals affirmed a jury verdict that imposed 100% liability on an escrow agent for a wire transfer it sent to a cybercriminal/imposter and attributed no fault to the imposter or the party whose systems...more

[Webinar] Wire Transfer Fraud: Preventing and Mitigating this Rising Threat - December 6th, 12:00 pm - 1:00 pm ET

Warner Norcross + Judd on 11/7/2022

Join Warner Norcross + Judd LLP attorneys Madelaine Lane, Kelly Hollingsworth and Nate Steed for a webinar focused on preventing and mitigating wire transfer fraud. Cyber criminals are utilizing phishing emails and other...more

No Coverage Under Cybercrime Endorsement for Florida Fraudulent Wire Transfer

Carlton Fields on 9/23/2022

In Star Title Partners of Palm Harbor LLC v. Illinois Union Insurance Co., the Eleventh Circuit Court of Appeals affirmed judgment for the insurer and held that coverage did not exist under the plain language of a...more

“Cyber” Insurance Found to Cover Fraudulent Wire Transfer

Balch & Bingham LLP on 4/20/2020

The story is becoming all too common. A merchant (or consumer) is convinced to wire money to a fraudulent account because of an incorrect belief that they are wiring the money to the real party....more

When it Looks Like a Strad but Isn’t: Protecting Yourself from Wire Fraud in Your Real Estate Transaction

Whitman Legal Solutions, LLC on 5/5/2018

Fine violins do not have serial numbers, but they do typically have a label inside identifying the maker and frequently the year and location where the violin was made. Many violin makers, or luthiers[i] as they are known,...more

Phishing Lures: What To Do If You’ve Taken The Bait - U.S. Version

Dickinson Wright on 7/3/2017

Sometimes, it’s easy to know you’re being phished. There’s little chance that a bank administrator in a country you’ve never heard of really needs your help to get the unclaimed money of a deceased, rich foreigner out of the...more

Are Cyber Thieves Compromising E-Mail? .. YES!

Foodman CPAs & Advisors on 11/11/2016

Recently FinCEN issued Advisory (FIN-2016-A003) regarding e-mail compromise schemes that defraud Financial Institutions by deceiving them into conducting wire transfers that result in misappropriated customers funds. The...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

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