Financial services firms process thousands of wire transfers daily. One compromised email can cost $4.89M. Vericor gives your team a 3-second verification gate before every high-risk transaction.
Average cost of successful BEC attack in financial services
Of financial firms experienced wire fraud attempts in 2024
Average verification time with Vericor
Attackers impersonate executives or clients to request urgent wire transfers. In financial services, these requests look routine—making them nearly impossible to distinguish from legitimate transactions without out-of-band verification.
Real Example:
"A wealth management firm received an email from a 'client' requesting a $2.3M wire transfer for a time-sensitive investment opportunity. The email domain was one character off from the real client's domain. Without verification, the transfer would have been processed."
Attackers compromise vendor email accounts and send legitimate-looking invoices with updated bank account details. Financial teams process hundreds of vendor payments—one compromised account can drain millions before detection.
Real Example:
"A private equity firm's accounting software vendor was compromised. The attacker sent an email requesting updated ACH details for recurring payments. The firm processed 3 months of payments ($890K) before the real vendor noticed."
During mergers and acquisitions, attackers impersonate legal counsel or deal advisors to redirect escrow payments or closing funds. The urgency and confidentiality of M&A deals make verification challenging—and losses catastrophic.
Real Example:
"A mid-market investment bank was closing a $47M acquisition. The attacker impersonated the seller's attorney and sent updated wire instructions 48 hours before closing. The fraud was only caught because the buyer's CFO insisted on a verification call."
Before processing any wire over $50K, treasury teams forward the request to [email protected]. Vericor checks sender authentication, domain reputation, and request patterns—returning a trust score in under 3 seconds.
When vendors request updated bank details, AP teams verify via Vericor before updating payment systems. Out-of-band verification prevents account takeover fraud without disrupting vendor relationships.
During deal closings, legal and finance teams verify all wire instructions through Vericor before transferring escrow or closing funds. Adds zero friction to deal timelines while preventing catastrophic fraud.
Wealth managers and advisors verify client instructions for large transfers or account changes. Protects client assets while maintaining the trust and responsiveness clients expect.
One prevented incident pays for 65+ pilot programs
($4.89M ÷ $75K pilot cost)
Join financial services firms using Vericor to verify high-risk transactions before the money leaves. Start with a free 30-day pilot—no integration required.