Funds Transfer Fraud

Cybersecurity predictions for 2026: Deepfake-as-a-service Fuels Executive Fraud

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In 2025, deepfake-enabled fraud increased sharply, changing how attackers operate. This threat is now a top concern in cybersecurity predictions for 2026. Security teams, insurers, and brokers are working hard to keep up. One threat dominates. Deepfake-as-a-service has unleashed mass-market crimeware at alarming speed. The barrier for high-impact impersonation has plummeted. Attackers accelerate their cycles … Read more

Cyber Insurance Claims Surge: BEC and Fraud Top Coalition’s Report on 2024 Insurance Claims

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Coalition’s newly released 2025 Cyber Claims Report outlines key cyber trends that shaped the digital threat landscape and influenced insurance outcomes for its policyholders across 2024. The report reveals that business email compromise (BEC) and funds transfer fraud (FTF) dominated claims, accounting for 60% of all incidents. Coalition notes its proactive “Active Insurance” model played … Read more

Don’t Initiate that Wire Payment Before Reading This. Funds Transfer Fraud Jumps in Frequency and Severity, Coalition Reports

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We told you about Coalition’s findings on business email compromise (BEC), as reported in the managing general agent’s 2024 Cyber Claims Report. But we were also struck by the data on Fund Transfer Fraud or FTF. Both the frequency and severity of FTF claims increased from 2023 to 2024. Claims were up 15% YOY and … Read more

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