The damage caused by a fake Zoom invite used to gain access to a fund manager’s email system in the fall of 2020 highlights for all companies the importance of protecting against this prevalent threat. This two-part series provides 11 lessons from the incident that cost Australian hedge fund manager Levitas Capital $800,000 and a major investor, and compelled it to close up shop. This first article describes the incident and explains the initial three lessons. The second article will lay out the remaining eight lessons. See “DOJ Spotlights Emerging Issues and Protection Strategies Around Business Email Compromise Attacks” (Oct. 9, 2019).