Wire transfer fraud has long been a popular target for cyber criminals.
A case of first impression decided by the California Court of Appeal, Fourth Appellate District demonstrates the high stakes for victims of this crime. Specifically, on May 27, 2025, the Court of Appeal released an opinion addressing the issue of who bears the loss when settlement funds are fraudulently diverted via a wire transfer scam.
As the National Security Agency (NSA) noted in its 2022 cybersecurity yearly review, “[c]yberspace is dangerous.”
Reports of sophisticated cyberattacks and ransomware threats were prevalent in the past year. The government, manufacturers, and others further developed standards for securing digital infrastructure like 5G, cloud services, cryptography, internet protocols, and…
Reports of sophisticated cyberattacks and ransomware threats dominated 2021 headlines, along with evolving state data privacy laws in the absence of comprehensive federal data protection regulation. Cross-border data transfers between the EU and US still lack a clear, streamlined mechanism while national authorities continue to negotiate an EU-US Privacy Shield…
As we’ve previously reported, cyber risks are an increasingly common risk facing businesses of all kinds. In a recent speech given at the New York Stock Exchange, SEC Commissioner Luis A. Aguilar emphasized that cybersecurity has grown to be a “top concern” of businesses and regulators alike and admonished companies, and more specifically their directors, to “take seriously their obligation to make sure that companies are appropriately addressing those risks.”
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