Case Study: Law Firm recovers $150,000 after wire fraud with Coalition

Coalition’s Security Incident Response Team (SIRT) Recovers $150,000 for a Policyholder

A law firm fell victim to a social engineering attack where a hacker impersonated its CFO via a spoofed email and tricked a controller into wiring $200,000. The company believed the funds were unrecoverable until they contacted Coalition and its Security Incident Response Team (SIRT).

Coalition immediately leveraged its relationships with financial institutions and law enforcement to act with urgency. As a result, $150,000 of the stolen funds were recovered and returned to the client within 24 hours of the initial call. Coalition's insurance policy covered the remaining loss, and their security team helped the firm implement two-factor authentication for future wire transfers to prevent recurrence.