According to the FBI, there has recently been a significant spike in email fraud, costing businesses billions in the last two years – with a significant portion of these funds landing in Hong Kong bank accounts. If your client is the victim of fraud, it is essential to act quickly to minimize losses and secure the best chance for recovery.
In what is commonly known as “CEO fraud,” criminals impersonate the Chief Executive Officer or another senior executive of a company, using spoof communications to initiate unauthorized international wire transfers. Fraudsters engaging in these types of fraud can be very sophisticated and often employ any means possible to put the misappropriated funds out of the reach of their victims.