News & Analysis as of August 5, 2025

Fraudulent Wire Transfers

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Fraud is the making of false representations or engaging in deceptive behavior in order to unlawfully secure financial or personal gain.

Email Payment Scams: Assume the Worst

Williams Mullen on 7/30/2025

Cybercriminals will continue intercepting electronic fund transfers (EFTs) until EFT participants slow down, read, and ask questions, particularly in response to emails requesting last-minute changes to payment methods (e.g.,...more

Defendant Bore Risk Of Loss Due To Fraud When It Wired Settlement Proceeds To Imposter

Proskauer - California Employment Law on 7/24/2025

Thomas v. Corbyn Restaurant Dev. Corp., 111 Cal. App. 5th 439 (2025) - The parties involved in this personal injury lawsuit settled the case for $475,000. An unknown third-party purporting to be plaintiff’s counsel sent...more

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

WTF?! – Recurring Issues in Wire Transfer Fraud Coverage Disputes

Troutman Pepper Locke on 10/6/2021

Business email compromise threats trick unsuspecting targets into sending money to the perpetrators, often through use of fraudulent wire or ACH transfer instructions. Entities should take steps to protect themselves from...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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