Making Cents of Your Cash Management Agreements
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
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
The facts are an oft-told business email compromise horror story: a hacker interjects themselves into an email discussion of a business deal, changes the wire instructions to their own account, and disappears with the...more
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
Cybercriminals exploited remote work during the COVID-19 pandemic. In 2020, the FBI’s Internet Crime Complaint Center (IC3) saw a record 70% increase in the number of reported internet scams and losses exceeding $4.2...more
The McAfee & Taft Aviation Group has recently seen an increase in the number of phishing schemes relating to aviation escrow matters. Phishing is the fraudulent attempt to obtain sensitive information or data, such as...more
Business email compromise (“BEC”) is a type of cyberattack that is increasing at an alarming pace. The U.S. Federal Bureau of Investigation estimated in a May 2017 alert that global losses due to BEC scams totaled more than...more
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
We are reaching out to our investment firm clients to advise them of an email “spear phishing” scam that has targeted investment firms recently, attempting to lure their personnel into inadvertently revealing their email...more
Over the last decade as the specter of cyber attacks has increased dramatically, financial institutions have been encouraged to look into the use of cyber fraud insurance as one means of minimizing risk. A recent decision by...more
With policyholders facing increased losses from hacking and business email compromise, insurers are fighting hard to escape their obligations under financial institution bonds, crime policies and cyber insurance policies. In...more
For the second time this year, SWIFT is reporting another cyber-attack on a commercial bank. In a notice issued this morning, SWIFT said that attackers with a “deep and sophisticated knowledge of specific operational...more
Gone are the days of the overtly suspicious request from a Nigerian prince asking for your social security number or a friend needing a loan to get out of jail in a foreign country. These easily recognizable hacking attempts...more
Beyond the headlines, the latest cyberattacks target corporate bank accounts, rather than consumer credit cards. The FBI has been warning that wire transfer fraud is booming. The billion-dollar problem targets businesses --...more
Could your institution be at risk of liability for unauthorized wire transfers and Automated Clearing House (“ACH”) credit transfers? Data security breaches continue to garner headlines, and criminals continue to engage in...more