Cyber Video #1 of 5: Social Engineering – Garden City NY

So I was just about to pay an invoice from a large shipment we received recently. Then I get an email from Joe, our CEO, who directs me to wire the money to the supplier’s new account, which I did. A week later, I get a call from the supplier looking for payment. I paid in full to the new account. They said, “What new account?”

Then I take a closer look at that email from Joe. Apparently, a hacker had gotten ahold of the supplier’s invoice, emailed me impersonating Joe, and tricked me into transferring $225,000 to this account. Thankfully, our cyber policy covers social engineering fraud, and the insurance paid the loss. Without this coverage, we probably wouldn’t have recovered.

To view Video #2 of our Series – CLICK HERE

Call Petschauer Insurance in Garden City NY at (516) 419 5050