News & Analysis as of May 7, 2025

Phishing Scams

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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 -

Cybersecurity, Wire Fraud, and Attorney Liability: The Growing Risk Landscape

Integreon on 5/5/2025

Wire transfer fraud is on the rise, and attorneys are increasingly becoming prime targets for cybercriminals. With billions lost annually to fraudulent transactions, legal professionals who fail to implement robust...more

Need for Enhanced Cybersecurity in Public Finance — Cyberthieves Steal Bond Proceeds

Troutman Pepper Locke on 3/12/2025

Recent events highlight the need for enhanced cybersecurity protocols in government offices across the U.S. In late November 2024, the Township of White Lake in Michigan, intended to issue approximately $29 million in general...more

Wire-Fraud, Data Breach, and Phishing: A Live Action Role Play for In House Counsel

Ward and Smith, P.A. on 4/3/2024

At the recent In-House Counsel Seminar, three Ward and Smith attorneys presented a realistic role play response to an incidence of wire fraud, addressing red flags associated with fraudulent communications, corporate incident...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

Phishing: Cybersecurity’s Biggest Threat

Lowenstein Sandler LLP on 10/21/2021

Not every cybersecurity threat is ransomware. Phishing is cybersecurity’s biggest threat. It’s one of the most common ways hackers can “get into” your organization, and it can result in much more than identity theft. In the...more

Gone Phishing? Wire Fraud Scams Continue Unabated Throughout 2021 So Far

Goodwin on 6/14/2021

By this point, most businesses that regularly send and receive funds electronically have heard about the risk of wire fraud scams in which an intruder changes wiring instructions and diverts funds to its own account,...more

Government Enforcers Focused on Coronavirus-related Actions

Akin Gump Strauss Hauer & Feld LLP on 4/1/2020

- Market participants should review and assess their compliance procedures to prevent and detect insider trading risks associated with COVID-19. - Companies should increase their vigilance regarding cybersecurity threats...more

Be on High Alert for New Wave of Wire Fraud Scams

Robinson+Cole Data Privacy + Security Insider on 3/6/2020

Scammers always go back to the good old scams, even when they are making bundles on new scams. Although our lives have been consumed of late with an onslaught of ransomware attacks, this past week, we have seen an uptick in...more

Minimizing Risk and Liability from Man in the Middle Attacks (or, How to Keep Your Company’s Wire Transfers from Going Awry)

Foley Hoag LLP - Security, Privacy and the... on 4/29/2019

Imagine this scenario: you’ve had a productive and mutually advantageous ongoing contractual relationship of several years with another party. You have built up quite a bit of trust over the years, and communicate regularly...more

Protecting Against Wire Fraud and Man in the Middle Schemes

Robinson+Cole Data Privacy + Security Insider on 2/11/2019

The scammers continue to find easy ways to dupe unsuspecting businesses into sending information or money to them....more

CFOs Beware: You are Being Targeted by Nigerian Hackers

Robinson+Cole Data Privacy + Security Insider on 12/14/2018

A report released by cybersecurity firm Agari has come to a conclusion that we have experienced all year—that a hacking group in Nigeria, dubbed “London Blue,” is targeting CFOs and Controllers in small businesses to...more

Fool Me Twice…SEC’s latest Cyber-Fraud ROI Indicates Future Enforcement Against Hacker Victims

Sheppard Mullin Richter & Hampton LLP on 11/29/2018

In the aftermath of the Securities and Exchange Commission’s (“SEC”) latest Report of Investigation (“Report”) regarding cyberattacks via “spoofed or manipulated electronic communications,” companies should prepare to adjust...more

How to Avoid Falling Victim to Wire Transfer Fraud

Epiq on 10/3/2018

According to the Association for Financial Professionals’ Payment and Fraud Controls report, 2017 was a record year for payment fraud. The tactics employed by scammers and other malicious outsiders continue to grow more...more

The Rise of Wire Fraud: Cybercrimes Targeting Money Wired in Real Estate Transactions Increasing

Mitchell, Williams, Selig, Gates & Woodyard,... on 10/2/2018

No one can argue that technology has worked wonders in the area of real estate transactions, making these transactions faster, smoother and more accessible. However, thanks to technology these transactions are now exposed to...more

Privacy Tip #155 - Home Buyers Tricked Out of Down Payments by Scammers

Robinson+Cole Data Privacy + Security Insider on 9/11/2018

An old trick is coming back and working. It is a wire fraud scheme targeted at homeowners instead of businesses, and it is happening at an alarming rate....more

Wire Fraud Scams and Corporate Email Attacks: Beware of Tricks, Not Treats, During Cyber Security Awareness Month

Nutter McClennen & Fish LLP on 10/11/2017

The U.S. Department of Homeland Security named October “National Cyber Security Awareness Month,” and has given it the not-so catchy acronym of NCSAM. Though one might quibble with the choice of name, the many spectacular...more

Two Court Rulings Show Coverage Difficulties for “Fake President” Fraud

Nossaman LLP on 8/3/2017

A few weeks back, the Insurance Recovery report posted a blog about the difficulty obtaining insurance coverage for “fake president” fraud, which is also known as business e-mail compromise, or social engineering fraud. Two...more

Cybersecurity: Spear Phishing Covered Under Insurance Policy Where Code Manipulated

Bennett Jones LLP on 7/26/2017

Increasingly, insureds faced with cyber fraud losses are going to the courts to interpret their policies. In The Brick Warehouse LP v. Chubb Insurance Company of Canada, 2017 ABQB 413 [The Brick Warehouse], and in Taylor &...more

[Webinar] Business E-mail Compromise Scams - Practical Perspectives - January 12th, 10:30am EST

Troutman Pepper Locke on 1/3/2017

An increasing number of businesses are targeted by very sophisticated email scams designed to convince company employees responsible for executing financial transactions to wire funds to overseas accounts controlled by...more

FBI issues another warning of a “dramatic increase” in phishing spoofs of CEOs

Robinson+Cole Data Privacy + Security Insider on 4/14/2016

We have consistently reported about increased phishing attacks through emails that purport to come from high level executives, including CEOs. According to the FBI, the hackers use sophisticated social engineering to spoof...more

Spoofing Whales: How Companies Can Protect Their CEOs and CFOs from the "Business Email Compromise”

Carlton Fields on 7/20/2015

Cyber scammers continually innovate new means to extract valuable information from unsuspecting victims. And a new form of cyber fraud is exploiting the close relationship between CEOs and CFOs. Identifying this threat — and...more

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