funds transfer fraud News

Low-Tech Cyber Attacks Took Advantage of Fixable Vulnerabilities in 2022: Coalition

Outdated technology, poor software maintenance, and the dreaded clicking of a malicious link were most to blame for cyber insurance claims experienced by policyholders in 2022, according to a new report from Coalition. “Threat actors are forever looking for targets …

Phishing Triggers Majority of Cyber Claims in 2022 First Half: Coalition

Claims are down among Coalition policyholders in the first half of 2022, but small businesses became bigger targets and an organization’s employees remain the easiest was for cyber criminals to infiltrate and pull off scams. Coalition’s 2022 Cyber Claims Report …

Funds Transfer Fraud Skyrockets in 2021; Small Businesses Hit Hard

Cyber claims from small and midsize businesses saw a “material uptick” in 2021, with funds transfer fraud a main culprit, according to cyber insurance and security firm Coalition. According to its 2022 Cyber Claims Report, Coalition concluded that from 2020 …