Wire Fraud and Cyber Theft

Wire fraud and cyber theft is everyone’s nightmare occurrence. And, it is all too common in California, especially in the real estate industry given the high price of real estate. The common scheme is that the buyer receives an email that purports to be from a broker or an escrow agent with wiring instructions. Believing the instructions to be genuine, the buyer wires the money. And, just like that, the money is gone. The buyer soon finds out that the email was a spoof. The immediate question is: Who is responsible? Of course, the person orchestrating the scheme if you can find them and your money. But also, depending on the circumstance, it could be, among others, the buyer, the buyer’s agent, the escrow officer, the bank receiving the wiring instructions, or the bank receiving the wired money.

The attorneys at GED represent victims of cyber theft and businesses alleged to have enabled it. Our attorneys also advise and consult with business professionals regarding cyber theft prevention and liability.