The Florida Bar reported:
Florida lawyers targeted by new wave of cashier’s check fraud.
One recent incident involved a lawyer contacted by a “client” claiming he was owed $650,000 from U.S. Energy. After the client signed a fee agreement but did not pay an initial retainer, a FedEx package arrived containing a letter and cashier’s check for the claimed amount.
The attorney immediately contacted the company, which confirmed that both the client and the check were fraudulent.
Attorney trust accounts are particularly vulnerable in these schemes because they often hold substantial sums, and perpetrators hope the attorney will assume the check will clear and disburse funds before the bank discovers the fraud.
Find the original article with what to watch out for here.
Key Takeaway: Similar to with sending AP payments to vendors with recent remittance changes, also verify funds received that are used to disburse funds.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat
Florida lawyers targeted by new wave of cashier’s check fraud.
One recent incident involved a lawyer contacted by a “client” claiming he was owed $650,000 from U.S. Energy. After the client signed a fee agreement but did not pay an initial retainer, a FedEx package arrived containing a letter and cashier’s check for the claimed amount.
The attorney immediately contacted the company, which confirmed that both the client and the check were fraudulent.
Attorney trust accounts are particularly vulnerable in these schemes because they often hold substantial sums, and perpetrators hope the attorney will assume the check will clear and disburse funds before the bank discovers the fraud.
Find the original article with what to watch out for here.
Key Takeaway: Similar to with sending AP payments to vendors with recent remittance changes, also verify funds received that are used to disburse funds.
Enroll in Training Sessions: Last Thursday of Every Month is Training on Frauds and New Scam Alerts and How to Combat