More and more, scammers are targeting lawyers by sending forged emails to law firms, clients and financial institutions. The wire fraud scams typically involve a compromised email account, which can be the lawyer’s, the client’s or even the bank’s. Scammers monitor the account to uncover pending transactions, such as a real estate purchase, a loan or the settlement of a lawsuit.
At the appropriate time when the parties are expecting a request for funds, the hackers (who often know exactly how much money is being transferred) will send wire instructions.
The funds are immediately swept from the account, and the hackers disappear. The emails usually originate from an address that appears to be from a legitimate sender but uses a slightly altered domain name.
Sometimes the scammer will request a change to […]