Morning Briefing: Law firms fall for banking scams

by Steve Randall28 Sep 2015
Law firms fall for banking scams
An insurer is warning that fraudsters are using clever tactics in order to empty law firms’ bank accounts. British professional indemnity insurance firm Elite says that the successful scams involve plausible-sounding telephone calls to law firms ‘confirming’ recent transactions. During the process the caller manages to gain security information from office staff who believe the caller to be genuine. They then use this along with other information obtained through system hacks to empty the firms’ bank accounts. Millions of dollars worth of funds have already been stolen from UK law firms in this way. Elite advises that firms should be wary of incoming calls of this kind and receptionists should take callers’ details and advise them that someone will return their call.
 
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