The Friday before a long holiday weekend

weather

What Are You Doing Friday? I’m Going Golfing, Wire Fraud Bad Guys Are Working. The weather looks great here in Chicago and I have a round of golf lined up for Friday.  This week is a time when people’s minds are drifting towards relaxation, social gatherings, and travel plans. The start of summer brings with…

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Have you Noticed More Phishing Attacks than Usual?

fishing

I know I have, and I bet you have too! There is an old saying attributed to Winston Churchill….“Never let a good crisis go to waste.”  In 2023 wire fraud bad guys and cyber criminals have spun this slightly to “Never let a banking crisis go to waste.”  A banking shock like we are experiencing…

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SVB and Wire Fraud Risk

silicon valley bank logo

Attention all business owners, funds, employees, and individuals involved in the ongoing frenzy surrounding Silicon Valley Bank. We want to bring to your attention the significant security risks that exist in this frenzied environment, particularly when it comes to wire fraud. The high urgency and speed at which individuals and organizations are moving create a…

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Finance Teams Who Stop Wire Fraud Should Get a Medal (or a trophy)!

trophy

When companies work on cyber security, they invest time and money to stop breaches, ransomware and malware.  When it comes to wire fraud, the fastest growing crime, they do not.  With wire fraud, the bad guys are looking to hack humans, not machines, so the typical response is to just have the humans “handle it.”  …

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ACH vs Wire Transfers: Which is Safer?

money changing hands

At Conduit, we know there are some elements that make Automated Clearing House (ACH) transfers safer at the margins when compared to wires, because they are slower and “technically” reversible. However, ACH transfers often get less attention at companies, so are behaviorally more dangerous because they are believed to be safer! Criminals don’t care and…

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Understand Your Insurance Coverage

insurance policy

A recent ruling in a Minnesota District Court distinguished between social engineering and computer fraud. Most important for your business: understand your coverage and the pitfalls. In summary, the victim in this case fell for a garden variety Business Email Compromise (BEC) based wire fraud. Like many of the victims Conduit has worked with, this…

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We asked DALL-E-2 to show a Wire Fraud Victim

dall-e-2 wire fraud victim

If you have heard of or seen some of its work already, DALL-E-2 is an AI artist that creates original art in seconds from a descriptive sentence. After DALL-E-2’s “Last Selfies on Earth” made news this month, I decided to see what the AI would produce for a victim of wire fraud. My Artistic Critique…

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