Now that the weather has cooled off we are back with more family dinners at our house!
Last night’s dinner conversation involved my daughters first hand witnessing of cyber fraud. Short story – goes like this…..
A client was purchasing a property and the closing for the sale was scheduled for Friday. The client received an email from her attorney saying that the closing date had been moved to today and that they needed the funds wired to the bank as soon as possible so that they could transact the closing. Now the email appeared to have come from the attorney BUT it was actually from a cyber thief.
The client instructed her bank to wire the funds, but before the bank finalized the procedure, they advised the client that it was going to a bank in Mexico! This information prompted the client to check in with their attorney who had not changed the closing date or sent that email!
This cyber thief almost absconded with a large sum of money!
Cyber thieves appear to be everywhere. If you are a business please check that you have Electronic Funds Transfer Coverage. This is a specific insurance needed for your protection form this type of event.
If you are an individual, please keep tabs on your bank accounts and transactions. Also, be sure to update your passwords frequently.
Not sure about your coverage? Send us an email or give us a call , we can walk you through the process! Stay tuned for more dinner conversations in the future!
Herlihy Group – Here to Help!