Fraud: Company, Switzerland 2024
A supposedly well-known American sculptor wanted to buy four pictures for 21'000 francs, supposedly as an urgent wedding present.
- Incident · 07.2024 · Switzerland
- Evidence: confirmed by an authority
- Fraud
- Deception (social engineering)
As of
What happened
A supposed forwarding agent demanded that the artist advance just under 5000 francs in transport costs; a fake payment confirmation from Bank of America followed. The artist recognised the fraud and broke off contact.
- Affected
- Company (anonymous)
- Industry
- other industry
- Loss
- no loss; an advance of just under 5000 francs was demanded
- Business interruption
- unknown
- Ransom demanded / paid
- unknown / unknown
- Data affected
- unknown
- Bankruptcy
- no
- Entry point
- Purchase enquiry from a supposed US sculptor by email and Skype
What would cyber insurance have paid?
That depends on the terms. Whether those affected were insured: unknown.
-
CEO fraud, diverted payment, fake invoice
Mostly add-on 5 of 9 business products cover it fully, as an add-on or with limits.
Overview based on public policy terms, as of 06.11.2026. Only your policy and its general terms and conditions (GTC) are binding. No confirmation of cover.
What we can learn
If you as the seller are asked to advance costs, you are dealing with advance fee fraud.
Sources
- Wochenrückblick Woche 27: Cyberangriffe in der Kunstbranche (opens in a new window) Bundesamt für Cybersicherheit BACS (bis 2023: NCSC) · 09.07.2024
«Der Schweizer Künstler erkannte den Betrug und brach die Kommunikation ab.»