Over the last several months, a number of states from Colorado to New Jersey have posted warnings on the return of the Attorney’s Escrow Account scam.
As described on the New Jersey Department of Insurance web site, scammers accomplish the scam via e-mail solicitations to attorneys that typically involve the claim of delinquent collections, or similar matters, which require the receipt of funds via check into an attorney’s escrow account. Shortly after funds are received, but before the check has cleared, the attorney is asked to wire some of the funds to the scammer’s bank account. Only later does the attorney learn that the original check is fraudulent.
While this is a relatively easy scam to spot, it is one you and your staff should be vigilant about.
Paxin Closing and Escrow, LLC, offers solutions to protect your firm against scams like this and other frauds and thefts.
If you have any questions, or need help with your title insurance needs, please do not hesitate to contact Paxin Closing and Escrow, LLC, at 866-752-4445.
