1. Insurance for Professionals
Adam E. Gwaltney, Agent, Ritman & Associates

2. WTF! Wire Transfer Fraud... What Now?
Adam E. Gwaltney, Agent, Ritman & Associates

3. Case Study: A Buyer Cash Deal- Social Engineering Fraud
Adam E. Gwaltney, Agent, Ritman & Associates

4. Presented by: Adam E. Gwaltney, Agent Ritman & Associates, Inc
Presented by: Adam E. Gwaltney, Agent Ritman & Associates, Inc. Specializing in: Legal Professional Liability Insurance, Title Agent E & O Insurance, Cyber Liability /Data Security Insurance and Crime/Fidelity Insurance
Adam E. Gwaltney, Agent, Ritman & Associates

5. Adam E. Gwaltney, Agent, Ritman & Associates

6. Attacking the Weak Link…
Lender
Title Agent
Title Ins. Carrier
Realtor
Adam E. Gwaltney, Agent, Ritman & Associates
Soft Target

7. The Hack
Adam E. Gwaltney, Agent, Ritman & Associates

8. Adam E. Gwaltney, Agent, Ritman & Associates

9. Initial Investigation
Adam E. Gwaltney, Agent, Ritman & Associates

10. The Instructions Change…
Adam E. Gwaltney, Agent, Ritman & Associates

11. Adam E. Gwaltney, Agent, Ritman & Associates

12. Adam E. Gwaltney, Agent, Ritman & Associates

13. Gone Disappeared Vanished Departed
Adam E. Gwaltney, Agent, Ritman & Associates

14. Adam E. Gwaltney, Agent, Ritman & Associates

15. Adam E. Gwaltney, Agent, Ritman & Associates

16. in the Form of Wire Funds
…Social Engineering
in the Form of Wire Funds
Transfer Fraud
Adam E. Gwaltney, Agent, Ritman & Associates

17. Adam E. Gwaltney, Agent, Ritman & Associates

18. Adam E. Gwaltney, Agent, Ritman & Associates

19. Adam E. Gwaltney, Agent, Ritman & Associates

20. Adam E. Gwaltney, Agent, Ritman & Associates
Complaint That is

21. Selling Agent Broker Title Agent Gardner Parking Lot Attendant Pastor Kindergarten Teacher and Your Brother-Cousin
Adam E. Gwaltney, Agent, Ritman & Associates

22. Adam E. Gwaltney, Agent, Ritman & Associates

23. Adam E. Gwaltney, Agent, Ritman & Associates

24. Professional Services
The Pyramid of
Protection….
Money,
Data,
Services
Money
Securities
Data, Information
Professional Services
Crime Insurance
Cyber Liability
Adam E. Gwaltney, Agent, Ritman & Associates
Errors & Omissions

25. Adam E. Gwaltney, Agent, Ritman & Associates

26. Identify Protect Detect Restore Recover
Adam E. Gwaltney, Agent, Ritman & Associates

27. Whom do you contact? In what order?
Within the first 1 to 5 hours of the detected fraud…waiting is your enemy.
FBI – must report in two segments
Your legal counsel – attorney client privilege
Secret Service – wire fraud division
Chain of banks that may receive funds
All of your insurance carriers
Your local police
Your IT department/provider
MAINTIAN A DETAILED LOG OF EVERYTHING
Do not trust anyone post claim
Adam E. Gwaltney, Agent, Ritman & Associates

28. What’s the big diff?
Wire transfer fraud: when a thief steals your money without your knowledge
Social engineering fraud: when a thief convinces you to voluntarily GIVE them your money under the guise of trust
Care, custody and control
Adam E. Gwaltney, Agent, Ritman & Associates

29.
Finding Coverage

30. Coverage for the Risk… Cyber Liability / Data Breach
Errors & Omissions Insurance
Crime / Fidelity
Escrow Security Bond
Adam E. Gwaltney, Agent, Ritman & Associates

31. Key Areas to Prioritize…
Employee training
Incident response plan(s)
Staying current with technology
Enhanced detection methods
Budget increases
Procuring insurance at appropriate levels
Business partners carry insurance at appropriate levels
Adam E. Gwaltney, Agent, Ritman & Associates

32. Adam E. Gwaltney, Agent, Ritman & Associates

33. Cyber Liability Insurance
Fidelity
Crime
Coverage
Errors & Omissions
Insurance
Cyber Liability Insurance
Risk Management
Insurance Coverage
Adam E. Gwaltney, Agent, Ritman & Associates
Best Practices

34. What you Think You’re Buying…
Adam E. Gwaltney, Agent, Ritman & Associates

35. What you Actually Bought…
Adam E. Gwaltney, Agent, Ritman & Associates

36. Training Education Transfer
T.E.T. Offensive…
Training
Education
Transfer
Adam E. Gwaltney, Agent, Ritman & Associates

37. Adam E. Gwaltney, Agent, Ritman & Associates

38. Adam E. Gwaltney, Agent, Ritman & Associates

39. Disclaimer
This information is written from an insurance perspective and is meant to be used for informational purposes only. It is not the intent to provide legal advice, or advice for specific fact, situation or circumstance. Contact legal counsel for specific advice.
Adam E. Gwaltney, Agent, Ritman & Associates

40. Adam E. Gwaltney, Agent Ritman & Associates, Inc
Adam E. Gwaltney, Agent Ritman & Associates, Inc. Noblesville, Indiana – ext. 103
Licensed in Alabama, Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, South Carolina, Tennessee
and Virginia
Specializing in Professional Liability Insurance for Attorneys, Law Firms, Title Agents
Offering Legal Professional Liability, Title Agent E & O, Cyber Liability, Crime Insurance, Escrow Security Bonds

41. Insurance for Professionals
Adam E. Gwaltney, Agent, Ritman & Associates