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Fraud warning from a U.S. title insurance company

January 25, 2013 By: TimLemieux Category: Fraud prevention

This is a warning from a U.S. title insurance company, advising that fraudsters are impersonating the company in an attempt to get real estate lawyers to divulge bank account information. This is less of an issue for Canadian real estate lawyers who still handle the transfer of money themselves (rather than using title insurer software), but it shows that criminal organizations are always trying to come up with new ways to dupe lawyers.

It’s also a good reminder that one should always be suspicious when asked to divulge bank account or other sensitive information. Providing those details or clicking on attachments in scam emails can lead to disastrous consequences for a law firm, as was the case with a firm in Hamilton in December.

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