Why your clients should be on alert for the ‘cyber cash grab’ - Funds transfer fraud

Think like a cyber criminal - they aren’t targeting specific businesses, businesses are simply making the cash grab easy.

In this article, Coalition’s head of claims, Catherine Lyle, explains why funds transfer fraud (FTF) is overtaking ransomware as the easier option for cyber threat actors, how they are able to pull it off, and what measures your clients can take to make it as difficult for them as possible.

Topics covered include:
• Most cyber claims start with phishing.
• FTF requires far less work than ransomware.
• Increased dwell time will result in greater losses.
• MFA transforms employees from a risk to an asset.