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DTSTAMP:20260407T203340Z
DTSTART:20171012T111500Z
DTEND:20171012T123000Z
SUMMARY:Business email compromise fraud
DESCRIPTION:Business email compromise fraud\, also known as chief executi
 ve officer fraud\, has emerged as a growing threat to large and small bu
 sinesses worldwide. In April 2016\, the FBI issued an alert following a 
 dramatic increase in these kinds of crimes\, estimating that victim orga
 nisations lose on average between $25\,000 and $75\,000 to an attack. In
  2015\, toymaker Mattel lost $3m\, commodities trader The Scoular Co los
 t $17.2m and technology firm Ubiquiti lost a massive $46.7m.\n\nThis pan
 el will discuss a scenario in which one company’s accounts are compromis
 ed and another company\, with which it does much high-value business\, i
 s convinced to transfer funds to a cybercriminal’s account.\n\nThe follo
 wing issues will be discussed in this context:\n\n• How and when do comp
 anies become aware of the fraud?\n• How do cybercriminals move money and
  what can be done to trace and freeze accounts?\n• Would an arbitration 
 clause in a framework agreement between the parties apply in such circum
 stances?
LOCATION:Room C4.2\, Convention Centre\, Level 4
UID:09f053f0-df35-44d3-b0d3-596ff0494b6e
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