Cybersecurity: Stolen $1.4 Million Not Covered Under Fraud Policy The US District Court for the Eastern District of Pennsylvania recently determined that a $1.4 million wire transfer fraud was not covered under Ryeco, LLC, a fruit distributor's, commercial crime policy. Ryeco, LLC v. Selective Ins. Co., No. 2:20-cv-03182 (E.D. Pa. May 13, 2021). A hacker in South Africa had gained access to Ryeco's network, fraudulently applied the company's vice president's signature to wire transfer forms, and emailed these forms to Ryeco's bank, causing the funds to be transferred into a sham account. Ryeco discovered the fraud, performed a forensic investigation, and obtained a coverage denial from Selective Insurance Company.