Your law firm’s biggest threat might be in your inbox—here’s how to stop it

If you’re a solo practitioner or small firm attorney, your next cybersecurity threat won’t be a mysterious figure in a hoodie who brute forces their way into your business’s database. In fact, the tactic will be much simpler: an email that looks like it came from your client. Or your paralegal. Or your bank.

This is business email compromise (BEC), and it’s one of the most financially devastating forms of cybercrime. According to the FBI, BEC scams led to $2.9 billion in reported losses. Anyone who handles or moves money—like lawyers or attorneys—is in the crosshairs.

The bad news? Your insurance probably doesn’t cover it. 

The good news? That’s about to change. 

ALPS Insurance and CertifID have teamed up to bring proactive fraud protection to ALPS customers at a reduced rate.

Here’s what that means for you.

Why small firms are at higher risk for BEC

Cybercriminals aren’t just targeting big firms with massive transactions. In fact, smaller firms often make better targets because they have fewer IT resources, more predictable patterns, and rely on email to communicate with clients, banks, and other parties.

This makes it incredibly simple for a fraudster to intercept or spoof an email, alter payment details, and trick someone into wiring funds to the wrong account. It happens in minutes, and without proper protection, the financial and reputational damage can be severe.

And if you do fall victim, recovery is often difficult. A survey by cybersecurity firm ArcticWolf found that nearly 70% of 1,000 global IT and security leaders said their organizations were targets of a business email compromise attack in the past year. 

Only 30% of the reported victims were able to thwart the attack.

How business email compromise happens

Most BEC attacks start with an email. That email might come from a compromised account or a lookalike domain (think partnersname@yourlawfirm.co instead of .com).

Once inside your inbox, the fraudster studies how you communicate, waits for the right moment, and sends instructions that appear legitimate—but divert the funds to an account they control.

For example, let’s say you’re handling a settlement disbursement for a client. You get an email from what appears to be the client’s financial advisor: “Please send the final wire to this updated account.” It’s polite, professional, and matches your previous conversations. Except it’s fake. 

You wire $80,000 to the new account.

A day later, the real advisor calls, confused. The money’s gone. You check the email thread and realize the fraudster spoofed the address with a subtle typo. It’s not covered by your malpractice policy. And now you’re staring down a lawsuit.

Why most malpractice policies don’t cover wire fraud

Most carriers won’t cover direct losses from wire transfer fraud due to business email compromise. That means that if a fraudster convinces a member of your practice or a client to wire funds to a fraudulent account, the recovery (if any) is your responsibility.

This is because the wire transfer is often made after a social engineering attack, not as a direct result of a breach of your computer network.

In this instance, the fraudster convinces the victim to transfer money voluntarily. So, technically, the fraudster does not directly use your computer to steal the money—hence, no coverage.

Read our blog post for more on wire fraud insurance.

What you get with CertifID

This new partnership helps close the gap that other carriers won’t cover. ALPS customers will receive access to CertifID’s fraud protection solutions at a rate that fits your scaling business and is explicitly designed to address the threat of wire fraud and BEC.

This includes:

• Insurance on every wire transfer: Coverage against wire fraud losses up to $250,000.
• Education and training: Access to expert-led webinars, white papers, and workshops on fraud prevention.
• Ongoing guidance: Our fraud experts and success managers will be available by chat, email, and phone support to keep you informed.

Direct access to Fraud Recovery Services

On top of proactive software and services, you’ll also get first-in-line support from CertifID’s Fraud Recovery Services (FRS) department. FRS has recovered over $80 million in stolen funds across 300 cases for victims.

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As wire fraud recovery and prevention leaders, we’ve developed unique relationships with federal and state law enforcement agencies. These relationships allow us to reach key stakeholders faster and freeze the flow of funds in fraudulent transactions.

While recovery is not possible in every case, you can rest assured that you have the industry’s best ready to help you if the worst happens.

A smarter way to protect your practice

Cybercriminals don’t care how many clients you serve or how long you’ve been in business. They care that you’re moving money and that you trust your inbox.

This partnership brings you trusted, battle-tested protection backed by two industry leaders: ALPS for professional liability and CertifID for secure transactions and fraud prevention.

Whether you’re a solo attorney or part of a small firm, you deserve tools that help you protect your clients, your business, and your peace of mind.

Ready to learn more or get started? Sign up to access your special CertifID offer now.

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