Business Email Compromise Results in $100 Mil. Fraud

A Growing Menace Globally

BEC (Business Email Compromise) is continuing to grow and cost businesses and other organizations billions of dollars worldwide. In fact the FBI says $2.3 billion in losses have occurred due to email wire-transfer scams over the last couple of years.
 
One of the latest and largest frauds transpired last summer when fake email addresses were used by the perpetrators to mimic an American company’s real Asian vendor. Over $98 million was transferred to an account in Cyprus before the bank identified suspicious transfers to other accounts. While $74 million has been recovered, the U.S. government has filed lawsuits to recover another $25 million in other bank accounts globally. 
 

Don’t Let Your Clients Suffer Fraud Losses

Make sure your clients have the right coverage and enough coverage for crime losses!

Contact any one of the Berkley Crime team members below and we’ll help you find the right solution.

——————————————————————-

National Practice Leader
Sean Missal
(860) 466-7377
[email protected]

Mid-West Regional Mgr.
Michael Beranek
(501) 707-6548
[email protected]

East Regional Manager
Matt McNamara 
(212) 497-3707
[email protected]

Amanda VanCauwenberge 
(312) 730-1101
[email protected]com

Patricia Logan 
(212) 497-3708
[email protected]

Kyna Love
(312) 705-1132
[email protected]

Cheryl Yorio 
(860) 466-7379
[email protected]

 

Everton Barrington, FLMI
(860) 466-7376
[email protected]

Alexander Doerflein 
(212) 497-3724
[email protected]

West Regional Manager
Jennifer Maggi 
(213) 417-5467
[email protected]

P: 844.44.CRIME
[email protected]
www.berkleycrime.com
Steve Nguyen 
(925) 472-8233
[email protected]

Experts focused on your protection.
We deliver.

Products and services are provided by one or more insurance company subsidiaries of W. R. Berkley Corporation. Not all products and services are available in every jurisdiction, and the precise coverage afforded by any insurer is subject to the actual terms and conditions of the policies as issued. Certain coverages may be provided through surplus lines insurance company subsidiaries of W. R. Berkley Corporation through licensed surplus lines brokers. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.

For additional information concerning W.R. Berkley Corporation’s insurance company subsidiaries, please visit: http://wrbc.info/Licensing/License.htm

 

“News You Can Use” E-Blast

Sign up for the latest news from Berkley Crime.

Let us know how
we can deliver for you!

844-44-CRIME