Sample Claim:
$225M RIA Firm – $200k Wire Fraud (Social Engineering)
 

The insured RIA firm received a signed third-party wire request form from a client email account for a down payment on a new home. The advisor knew that the client was in fact purchasing a home and had talked with the client recently about this transaction. The client’s email had been hacked by a bad actor and the bad actor also sent an email posing as the title company with their own banking instructions to the advisor. The advisor initiated the nearly $200k wire with the custodian and the funds were transferred to the fraudster never to be recovered. The RIA did not have a crime policy with wire fraud coverage in place and was left to make the client whole on their own.

Warren Buffett, legendary investor and self-made multibillionaire, filed his first income tax return at age 13, reporting revenue from a newspaper delivery job. He claimed a $35 deduction for his bicycle.