Steps to recover from FTF

The most critical factor to bouncing back from FTF is to act as soon as possible, according to Coalition. In addition, the cyber insurer recommends taking the following six steps:

Notify a claims team as soon the fraud is detected. Coalition reported within 48-72 hours is ideal.
Alert your bank immediately of the fraudulent transaction and request a reversal of the transfer.
File a report with the FBI's Internet Crime Complaint Center.
File a report with local law enforcement.
Follow up repeatedly on the status of the recovery with the bank that transferred and the bank that received the funds.
Institute multifactor authentication and host cybersecurity education programs for employees to reduce the chance of a business email compromise or other types of cyberattack.

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