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November 12, 2024
Partners John G. O’Neill and Jessica H. Park published the article “Insurance Coverage for Social Engineering Wire-Fraud Scams” in the October 2018 issue of DRI’s For The Defense publication.
An excerpt is below or to read the full article, click here.
A company employee receives an email from a trusted vendor, which instructs the employee to update the bank account information used to pay the vendor. The employee complies, wiring vendor payments to the new account only to discover soon after that the “new” bank account really belongs to a very clever cybercriminal. Thousands or even millions of dollars wired to the new account have been lost, with no viable means of recovery.
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Insurance coverage for social engineering wire-fraud scams |
Date: November 12, 2024 |
Publication |
John G. O'Neill, Jessica H. Park |
Related Services: Insurance & Reinsurance |
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Partners John G. O’Neill and Jessica H. Park published the article “Insurance Coverage for Social Engineering Wire-Fraud Scams” in the October 2018 issue of DRI’s For The Defense publication. An excerpt is below or to read the full article, click here. A company employee receives an email from a trusted vendor, which instructs the employee to update the bank account information used to pay the vendor. The employee complies, wiring vendor payments to the new account only to discover soon after that the “new” bank account really belongs to a very clever cybercriminal. Thousands or even millions of dollars wired to the new account have been lost, with no viable means of recovery. |
Related People |
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John G. O'NeillPartner617.227.3030[email protected] |
Jessica H. ParkPartner617.227.3030[email protected] |
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