An early case hit a Connecticut personal injury law firm in 2008. They received an email, apparently from an attorney in North Carolina who said she was attempting to settle a debt a Chinese company owed a company based in Connecticut.
It appeared to be a straightforward collection issue. The director of the Chinese company signed a retainer agreement with the Connecticut law firm, sent them a $200,000 check drawn on Wachovia Bank, and subsequently instructed the law firm to wire payment to a South Korean bank, which they did.
That was unusual ten years ago. Unfortunately today it’s more common. Social engineers going after bigger phish do their homework and tailor their messaging for plausibility.
You might think that people as accustomed to dealing with the crooked timber of humanity as attorneys would be forearmed against most forms of fraud. But social engineering can be surprisingly persuasive.
Law firms and other professional companies with similar responsibilities—one thinks of accounting firms—would benefit from a review of their policies.
Based Blockchain Network