Cybersecurity » Hackers Swipe Legal Closing Funds

Hackers Swipe Legal Closing Funds

January 27, 2016

By intercepting emails between lawyers and their clients, hackers are stealing closing funds. The scheme has worked in at least 91 cases, and on average it nets the hackers $112,000 pounds per incident. These hackers have experience using “spear fishing”—mimicking the email addresses of buyers, sellers, counsel and real estate companies—to get at the information and the funds. Worker error is at the heart of this dilemma. Jessica Edgerton, a lawyer with the National Association of Realtors, said the basic precautions include simply warning clients of potential fraud at the outset of the transaction.

Read full article at:

Sign up for our free Daily Updates newsletter for the latest news and business legal developments.

Daily Updates

Sign up for our free daily newsletter for the latest news and business legal developments.

Scroll to Top