Email Wire Fraud: Just an Inbox Away
E mail scams have been with us since the beginning of email; many of us in Bluffton and on Hilton Head have received patently fake requests for money from strangers all over the world, and despite the ridiculous nature of these requests, email wire fraud is a real concern, and one we take very seriously at The Bedminster Group.
Investors are being victimized by hackers who hijack their email account, examine their messages to determine if they have correspondence with an investment advisor or broker, and then attempt to send an email message requesting funds to be sent to a third party. Often the request is accompanied by a message of urgency, and information suggesting that the client is unreachable to confirm the request. These false messages often mimic the tone and language of the real account owner, in order to lull an unsuspecting agent or advisor into thinking that they are corresponding with the person they know, rather than a hacker. As registered investment advisors, we are attuned to respond to client financial emergencies without hesitation, so this type of fraud is of real concern.
Whenever we receive a wire request for funds , especially to a party other than your own bank, The Bedminster Group will take extra precautions to assure that its really you on the other end of that email. While this might result in a small delay, we feel it is worth the time to double check to assure the safety and security of your assets.