Cyber Fraud Incident – How Tysers Helped Secure a £80,000 Recovery

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The Cyber Fraud Incident

At 8:00am, our client experienced a cyber fraud incident. Susan received a call from a UK number. The caller claimed to be from her organisation’s IT team and warned that the company account had been compromised. To “secure” the account, they instructed Susan to install remote access software.

Despite initial hesitation, the caller used the names of real colleagues and stressed urgency. Susan was persuaded to install AnyDesk—a legitimate tool misused in this case. She granted full access to her device, including screen sharing and system permissions.

Once connected, the cyber fraudster activated “privacy mode,” blacking out Susan’s screen. Under the guise of account recovery, they gained access to the company’s systems and made several unauthorised withdrawals totalling £80,000. Each transaction was kept below £25,000 to avoid triggering additional authorisation.

Immediate Response

Susan quickly raised concerns. The company’s IT provider acted fast—removing the software, revoking access, and securing the system. Tysers notified the insurer immediately, who offered access to a cyber fraud expert to support the recovery process and validate the IT team’s actions.

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Initially, the insurer rejected the claim under the “Fraudulent Instruction” section, arguing that the funds were transferred by the hacker—not the insured. However, thanks to Tysers’ expert claims handling, the policy wording was reviewed and it was quickly identified that the loss fell under the Funds Transfer Fraud section.

This section covers:
“Loss of money from an account at a financial institution resulting from fraudulent instructions issued by a third party, without the insured organisation’s knowledge or consent.”

The Outcome

Thanks to Tysers’ intervention, the insurer reversed their decision. The client was reimbursed for the majority of the loss, less the policy excess and a small amount recovered by the bank.

Why It Matters

At Tysers, we don’t just place cover—we stand by our clients when it matters most.