Helping to recover £3.7 million of money lost to cyber conveyancing fraud is no small feat, and Pen Underwriting is happy to report it’s been able to do just that through the fraud response initiative it set up in partnership with UK law firm Mills & Reeve.
According to Pen Underwriting, of the 14 cases reported to the specialist insurance business so far, 55% of the total £6.7 million has been retrieved. In three instances, the full amount was contained and recovered.
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