WebCE's Weekly Wrap-Up: October 24, 2025
WebCE Staff
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October 24, 2025
This week brought a surge of stories shaping insurance, finance, cybersecurity, and compliance, from new federal scrutiny on sports gambling to fresh warnings about business email compromise and phishing attacks. Industry leaders also weighed in on AI adoption, Social Security changes for 2026, and the ongoing risks tied to outdated security practices. If you missed any of the headlines influencing your clients and your work, this wrap-up has you covered.
Below you’ll find the top articles our team flagged for their relevance, impact, and practical value, along with our recommended podcast of the week. Each link is curated to help you stay informed, anticipate questions, and bring stronger insights into your day-to-day decisions. Dive in, catch up, and head into the weekend prepared.
Let’s dive in.
Top News Stories of the Week
Congress asks NBA's Silver for briefing on gambling scandal (ESPN)
“Members of Congress sent a letter Friday to NBA commissioner Adam Silver requesting a briefing and expressing concern over "allegations of illegal gambling and sports rigging" after Portland Trail Blazers coach Chauncey Billups, Miami Heat guard Terry Rozier and former NBA player and coach Damon Jones were indicted in a pair of sweeping federal investigations this week.”
SEC Chief: Texting Crackdown Went Too Far (ThinkAdvisor)
The Securities and Exchange Commission chairman on Tuesday described the agency's handling of off-channel communications over the last couple of years as "not the way a regulator should act."
Modeling firm gives loss estimate from AWS outage (Business Insurance)
“A preliminary loss estimate for the Amazon Web Services outage Monday ranges from $38 million to $581 million, cyber modeling firm CyberCube said Thursday...In the latest report, CyberCube’s analysis shows that the outage is likely to have affected over 2,000 large organizations and nearly 70,000 organizations in total.”
Busted California Retail Theft and Fraud Ring Targeted the Elderly in $1M+ Scam (Carrier Management)
“Victims were coerced into purchasing high-value gift cards, often from The Home Depot and Lowe’s, and providing the card information to scammers. The gift cards were then used by suspects to purchase thousands of dollars in merchandise daily. Investigators estimate that more than $10,000 in fraudulent gift card purchases occurred each day at Bay Area retail locations for several months.”
Wire Fraud Red Flags to Improve Your Cybersecurity (WebCE Blog)
“Business Email Compromise, or BEC, is the main tactic used to execute wire fraud. BEC scams alone accounted for $2.77 billion in reported losses in 2024, according to the FBI’s Internet Crime Complain Center (IC3).”
‘They’re moving fast’: Are cybercriminals outpacing outdated defenses? (Insurance Business Magazine)
“Educating employees is key,” revealed Tolliday. “Businesses need to ensure employees understand how to spot AI and deepfake attempts. Coupled with good awareness, you also need strong processes in place, for example in how you verify when someone is asking to reset their password or requesting a financial transaction for example. By doing this, you are reducing the chance of these AI-powered attacks being successful.”
Life insurers rush to take advantage of AI’s potential (InsuranceNewsNet)
“We believe that leaning into what makes us human and augmenting it with technology is what leads to the best customer experience. We’re exploring how AI can help us improve the efficiency and effectiveness of our advisors, while keeping human connection at the center of everything we do.”
Social Security wage base and COLA announced for 2026 (Journal of Accountancy)
“Individual taxable earnings of up to $184,500 annually will be subject to Social Security tax in 2026, the Social Security Administration (SSA) said Friday. The amount, an increase from $176,100 in 2025, is the wage base limit that applies to earnings subject to the 6.2% OASDI tax (old age, survivors, and disability insurance). At or above the wage base limit, the employee and the employer each will pay $11,439 tax, an increase of $521 for each party in 2026.”
Microsoft Digital Defense Report 2025: Extortion and Ransomware Lead Global Cybercrime Surge (The Cyber Express)
“For individual users, Microsoft recommends the use of multi-factor authentication (MFA), especially phishing-resistant MFA, which can block over 99% of identity-based attacks, even when criminals have stolen valid credentials.”
Phishing Campaign Impersonates Password Managers (KnowBe4)
“An ongoing phishing campaign is targeting LastPass and Bitwarden users with fake emails claiming that the companies were hacked, urging them to download a supposedly more secure desktop version of the password manager,” BleepingComputer writes.
Top Podcast of the Week
Magnolia: Chip & Joanna Gaines. From House Flipping to Household Name
How I Built This Podcast
What happens when a charismatic home renovator marries a budding design whiz? You get the billion-dollar powerhouse that is Chip and Joanna Gaines.
The Gaines’ TV show Fixer Upper became a cultural obsession, turning shiplap and farmhouse sinks into a lifestyle movement that swept America.
When they walked away from that show at peak popularity, everyone thought they were crazy. Instead, they turned their business Magnolia into a thriving lifestyle brand, which includes a network, retail, restaurants, books, and a magazine. The Silos, their Waco headquarters, became an unlikely tourist destination, drawing millions.
Chip and Joanna proved that faith, small-town values and authentic storytelling could compete with coastal glitz. And they did it all while raising five kids.