Insurer Coalition: Costs From Business Email Compromise Rise in 2024 May 12, 2025 About 60% of claims handled by cyber insurer Coalition were from business email compromises—and about a third of those including...
FBI Says Cybercrime Costs Rose to at Least $16 Billion in 2024 April 23, 2025 By Raphael Satter Cybercrime of all stripes cost victims globally more than $16 billion dollars last year, the Federal Bureau of Investigation said...
$5 Million Recovered for Union Hit by Spoofed Email April 10, 2025 The Department of Justice recently recovered approximately $5.3 million for a union hit by a business email compromise (BEC) scheme....
Report: Impact of BEC Attacks on US Companies Misunderstood July 15, 2024 A new report asserts the impact of business email compromise incidents on U.S. companies is likely underestimated and misunderstood—and it...
Cyberattacks Over Work Email Most Used; Ransomware Hits Victims Hard: Arctic Wolf May 21, 2024 By Chad Hemenway Business email compromise is now the top method of cyberattack, according to a survey from cybersecurity firm Arctic Wolf. Of...
Low-Tech Cyber Attacks Took Advantage of Fixable Vulnerabilities in 2022: Coalition May 16, 2023 By Chad Hemenway Outdated technology, poor software maintenance, and the dreaded clicking of a malicious link were most to blame for cyber insurance...
Massachusetts Man Sentenced in Business Email Compromise Scheme March 14, 2023 A Framingham, Massachusetts man was sentenced this week for his role in a business email compromise (BEC) scheme. Gustaf Njei...
Fraudulent Funds Transfer, Ransomware Are Main Drivers of Cyber Loss: Corvus December 7, 2022 According to new data from Corvus Insurance, fraudulent funds transfer (FFT) continues to generate substantial losses for organizations. FFT comprised...
Phishing Triggers Majority of Cyber Claims in 2022 First Half: Coalition September 14, 2022 By Chad Hemenway Claims are down among Coalition policyholders in the first half of 2022, but small businesses became bigger targets and an...
Accounts Deceivable: Email Scam Costliest Type of Cybercrime April 12, 2022 By Alan Suderman It’s a crime that siphons untold billions from the economy — but many people have never heard of it. Business...