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Wire transfer fraud on the rise

Posted on Jul 01, 2016 by: Scott West

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As an insurance guide, it’s my job and the job of our personnel to steer clients through risk. We do this on a daily basis with hundreds of clients, transferring a portion of their risk to an insurance company via a payment (also known as a premium). Unfortunately, consdering the deductible, business interruption losses, and a host of other reasons, you can’t recover 100% of your losses on every claim. That’s why it’s better to use the best solution around:  don’t have a claim!

Which brings me to a very clever and lucrative form of theft: You or your employees might willingly, without duress, transfer large sums of money to a hacker. Check out this Reuters article from June 14 to get a feel for this type of scam.  Pathfinder can provide both insurance and loss prevention advice for your company.