News & Analysis as of

Scams Fraudulent Wire Transfers

Bradley Arant Boult Cummings LLP

Elder Wire Fraud Scams Rising, Produce Huge Losses

As part of implementing a robust cybersecurity standard, we must understand how bad actors are intentionally targeting our older colleagues and loved ones. On April 30, 2024, the U.S. Department of Justice (DOJ) announced...more

Goodwin

Protecting Against Wire Fraud Scams

Goodwin on

On March 10, 2023, the US Federal Deposit Insurance Corporation took control of the assets of Silicon Valley Bank (SVB). In light of SVB’s closure, many venture firms and emerging companies are establishing new accounts with...more

Locke Lord LLP

WTF (Wire Transfer Fraud)?! – Steps to Reduce Risk

Locke Lord LLP on

Business email compromise (BEC) threats are soaring. Huge amounts of money are at risk. We share some practical tips to reduce the chances of being swindled -- and to try to recover amounts if you are....more

Bass, Berry & Sims PLC

Privacy Perils: National Consumer Protection Week Fraud Reminders

Bass, Berry & Sims PLC on

The Federal Trade Commission (FTC) has designated this week as National Consumer Protection Week, and has issued a report on the top frauds reported during 2017. Highlights from the report are as follows... ...more

Baker Donelson

Closing Attorney Scams: Avoiding Fraudulent Wire Transfers

Baker Donelson on

As we move into the busy spring real estate cycle, criminals are targeting real estate agents and closing attorneys with increasing frequency. The scam begins with what appears to be a legitimate email from a party involved...more

Porter Hedges LLP

Business Litigation Alert - "Fraud Alert: Even Lawyers Get Scammed"

Porter Hedges LLP on

Law Firms Lose Millions in Wire Transfer Scheme - Unfortunately, it has become all too easy for companies and individuals to become the victims of fraud, and law firms are not immune from this risk. ...more

Orrick, Herrington & Sutcliffe LLP

FBI Warns Against Fraudulent E-mail Scheme

Companies should take notice of a new fraud scheme that has been making the rounds, targeting businesses that regularly make wire transfers. Known as the "Business E-mail Compromise," or BEC, this scam targets employees...more

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