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Best Practice to Combat the Increasing Wire Fraud Threat
Law enforcement updates confirm that the compromise of customer’s e-mail accounts followed by requests for third party wire disbursements continues to be a very formidable challenge across the brokerage industry. The premise of this scam has not changed all that much. In this scheme, the perpetrator compromises your e-mail account. They then send e-mails, which appear to be from you, to your financial services advisor. The e-mails will request information about account(s) and ultimately request that a wire be sent. Please review the attached list of characteristics and steps you should consider to protect you from wire fraud.