Hacked Tech Company Not Entitled to Cyber Coverage for Debt Payment Wired by Client to Hackers’ Bank Account

Alorica Inc., a technology services company, was the victim of an apparent phishing attack in October 2017. After gaining access to Alorica’s email system, hackers emailed Alorica’s clients, asking them to send payments to fraudulent bank accounts. One of those clients wired more than $4.8 million to the hackers’ bank account, and subsequently refused to […]
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