The Sedgwick County District Attorney’s Office is sending a notice to banks, title companies and realtors, urging caution in making electronic money transactions.
The DA’s Consumer Protection Division has recently started an investigation involving a six-figure electronic transfer of funds that had been intended to be sent to a legitimate bank account in anticipation of a property closing. The emails that were the subject of the communication were very close to the legitimate email addresses, but did contain a single letter or digit alteration to the email address which was not noticed until after the transaction. This ultimately contributed to the funds being sent to an illegitimate bank account. The DA’s Office said this type of fraud has occurred in the past.
Financial institutions and real estate firms are urged to take some basic steps:
(1) Confirm the accuracy of any email address purported to represent an individual or entity who is requesting the electronic transfer of any sum of money; and
(2) Take the time to call and confirm the identity and/or contact information as well as the account number and routing information of any banking institution to whom money is being electronically sent.
