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Daniel A. Kaskel, partner and director with Sachs Sax Caplan. Daniel A. Kaskel, partner and director with Sachs Sax Caplan.

If you are an attorney, title agent, realtor, broker, lender, home buyer or seller, or an individual or business that even occasionally sends or receives wire transfers, there is significant likelihood that a skilled hacker is working feverishly on conscripting you and your business into a $5 billion (and growing) illegal industry. Importantly, the perpetrators track and target emails, so even if you are not involved in the actual sending or receiving of wire transfers, the aforementioned parties could be unwitting enablers and facilitators of fraud.

This article will address relevant terminology, common scams, strategies to help minimize your risk, and share suggestions if you or a client becomes a victim of such a scam.

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