Social engineering fraud is no longer limited to wire transfers and funds-transfer scams. Increasingly, criminals are using deception to obtain physical goods and property – from high-value electronics and raw materials to finished inventory and even entire shipments in transit.
By impersonating trusted employees, vendors, or customers, these actors manipulate internal processes, reroute orders, and walk away with tangible assets that may never be recovered. For businesses, these losses can be particularly painful. They don’t just impact cash flow; they disrupt supply chains, strain key relationships, and expose weaknesses in verification, logistics, and internal controls.
Traditional crime and cyber policies typically do not cover social engineering schemes involving goods or property unless they’re specifically endorsed.
The blog below explores how these schemes work, why organizations are increasingly vulnerable to them, and what risk managers and finance leaders should consider when evaluating coverage, limits, and controls for social engineering losses involving goods or property.
https://www.marshmma.com/us/insights/details/business-email-compromise.html
Material posted on this website is for informational purposes only and does not constitute a legal opinion or medical advice. Contact your legal representative or medical professional for information specific to your legal or medical needs.
