Cyber criminals targeting law practices
Law practices should be on high alert for email fraud, with an increase in recent weeks of cyber criminals targeting solicitors.
These attacks are mostly related to transactions of substantial amounts of money – such as settlement of conveyancing transactions, distribution of estates, and payment of settlement amounts in litigation matters. In this instance, law practices have been scammed into transferring funds into a fraudulent bank account.
Fraudulent emails are often very hard to distinguish from genuine emails. It may appear the email is coming from your client, but could in fact come from a similar but slightly modified email address.
They are often received shortly before a significant deadline. Always treat last minute emails with updates to bank details as suspicious. It’s better to delay settlement than proceed without verification.
To avoid being scammed, ensure all staff are aware of the risk of fraudulent emails, especially involving the transfer of funds. Never assume bank details or contact details in an email are correct - always confirm details over the phone, in person, or other non-email communication.