Ooops! It Happened Again!

by | Jun 30, 2017 | Legal Tips

If you use an unsecured eMail account, BEWARE!  You’ve heard numerous times already about hackers and fraudsters trying to redirect money.  And at the end of the busiest month in the year for real estate, hackers have tried and failed twice at our firm in the last week.  It goes something like this:  A hacker notices a listing, hacks into the eMail account of the listing agent and monitors it until a contract comes in from another agent.  The hacker then mimics the eMail address of the buyer’s agent (with only a slight variation so it’s largely undetectable) and sends an eMail to the closing attorney during the closing asking that the seller’s funds be wired.  How does the hacker know everything?  From reading the eMails between the real estate agents.  At Blair Cato, we encrypt everything.  We do all we can to protect our side of the communication stream.  Real estate agents should consult their BICs and IT professionals for ways to prevent or minimize being hacked.

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