Your client’s email is hacked. You make the payment. Who pays?
Practical steps for FSPs and their clients to spot, verify, and prevent fraud before a compromised email becomes a costly payment.
#businessemailcompromise
Fraud’s global toll rivals national economies, report finds
Financial fraud drained $485.6 billion from the global economy in 2023 – an amount so large, it would place fraud among the world’s top 35 economies if it were a country.
Bank fraud: FICA doesn’t create a private law right to third-party damages
A couple who were victims of business email compromise argued that FICA imposed a private law duty on Nedbank to protect them from financial harm.
Debtor carries the risk, says High Court in ruling on cyber-fraud liability
The judgment highlights that confirming payment details is essential to avoid financial loss.
SCA overturns precedent-setting cyber-crime judgment
The High Court’s judgment opened the door to unlimited claims against businesses whose clients suffered losses because of email interception.
Only days left to book for Moonstone’s 2024 Regulatory Update Webinar
The agenda includes FICA compliance, the roll-out of Omni-CBRs, and managing the risks around business email compromise.
Bookings are open for Moonstone’s 2024 Regulatory Update Webinar
The agenda includes FICA compliance, the roll-out of Omni-CBRs, and managing the risks around business email compromise.
