Changes in wiring instructions may not be legitimate.
Scammers have infiltrated the email accounts of realtors to send altered wiring instructions - but the same scammers could also infiltrate the emails of clients, other services providers, and even law firms in order to steal client funds.
See the following alert from Peter Bolac of the North Carolina State Bar.
Call Lawyers Mutual to report possible fraud or cybercrime.
For more information regarding scams targeting lawyer trust accounts, view our article, "Frauds and Scams that Target Lawyer Trust Accounts." For information regarding coverage issues, view our article, "Real Estate Attorneys Take Note: Funds Transfer Fraud or Social Engineering Fraud?"
DISCLAIMER: This document is written for general information only. It presents some considerations that might be helpful in your practice. It is not intended as legal advice or opinion. It is not intended to establish a standard of care for the practice of law. There is no guarantee that following these guidelines will eliminate mistakes. Due diligence,
reasonableness and discretion are always necessary. Sound risk management is encouraged in all aspects of practice.