Manually verifying payment instructions is risky and inefficient

Digitization of push payments (wires, RTP, crypto, and more) greatly increases the threat of hijacked payments.

All it takes is a compromised email account.

You’re trying to fund an investment, distribute to an LP, or pay an invoice. But a fraudster uses the recipient’s email account to impersonate them –
and get the money! These attacks, known as business email compromise (BEC), are happening every day.

FBI statistics show that confirmed losses from BEC in 2022 were $2.7B with $7.6B in exposed losses. This is only a fraction of the real amount because not all losses are reported.

Projections indicate that BEC losses will accelerate, as more and more transactions are handled electronically.

There have been a spate of terrifying recent examples; venture capitalists, sports teams, and homeowners have all suffered losses.

Conventional measures can’t handle the problem

Email filtering does not stop BEC.

Phone calls to confirm are inconvenient, often skipped, and hard to do securely.

Secure email isn’t.

Fortunately, there is a solution

Walrus’s DoubleCheck platform defends against these sophisticated attacks

Learn about DoubleCheck