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Business Email Compromise
On March 26, 2025, the U.S. Court of Appeals for the Fourth Circuit issued an important decision addressing a depository institution’s liability for wire transfer losses resulting from a business email compromise scam....more
While at your place of business, you receive an email from a trusted source with an established vendor, notifying you that the vendor’s bank account information has changed. Do you note the change in your business records and...more
Business email compromises (BECs) remain big business. According to a recent FBI report, “[i]n 2021, BEC schemes resulted in 19,954 complaints with an adjusted loss of nearly $2.4 billion.” This is an increase from just over...more
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
Threat actors have recently and significantly increased efforts to defraud organizations and individuals through business email compromise (BEC). In BEC and related scams, the threat actors trick unsuspecting targets into...more
Some Words Are More Equal Than Others: BancInsure vs. FDIC - In George Orwell's "Animal Farm", the governing principle that "all animals are equal" was revised by the pigs, who had ascended into power, to "all animals...more