Crooks Spoof $46M From Networking Firm

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Simple and Effective Spoofing Fraud Strikes Again! 

 Over the past few months, we have cited several instances of firms victimized by fraudsters who spoof executive email addresses and wrangle company employees to transfer large sums of money to fraudulent accounts.  It has happened again, this time to Ubiquiti Networks, Inc., according to an article on The crooks stole $46 mil. in total and the firm is in the tedious process of recovering any funds they can still access.

Business Email Compromise (BEC):
A Fraud Scheme all Your Clients Need to Know About

As the article points out, BEC might seem somewhat unsophisticated compared to malware and viruses but it is surprisingly effective. Knowledgeable companies are instituting new procedures for transfers and financial reporting and verification. Share this article with your clients and start the conversation about how they might reduce their risk of loss.  

Help Protect Your Clients From Losses

The right fraud coverage could be a corporate lifesaver

Make sure you are recommending the right coverage for your client’s needs. We are experts in crime-related insurance and can help you create the right insurance solution to help cover losses from events such as business email compromise and other fraud schemes. Contact any of us listed below, we are ready to help!

For more information on Berkley Crime and our products, click here. Then contact any of us listed below to help you protect your clients from fraud losses.                  



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