The United States Court of Appeals for the Ninth Circuit, applying California law, has held that a loss resulting from an employee’s payments made to a third party after receiving.
Ninth Circuit dealt with a case involving a scenario that is becoming all too common. In Ernst & Haas Mgmt. Co., Inc. v. Hiscox, Inc., a property management company’s accounts payable clerk received several e-mails from her supervisor instructing her to pay invoices.
In G&G Oil Co. of Indiana, Inc. v. Continental Western Insurance Co., the Indiana Supreme Court confirmed that silent cyber; insurance industry’s term for circumstances when losses due to cyberattacks are covered by policies not marketed as cyberinsurance – extends to losses due to ransomware.
Business email compromise threats trick unsuspecting targets into sending money to the perpetrators, often through use of fraudulent wire or ACH transfer instructions. Entities should.