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A title company in New York City was handling a sale transaction in the amount of $3,715,000. The Seller sent her attorney bank wire instructions for the sale proceeds on May 2, 2023. The instructions directed the proceeds to be sent to Bank of America®. The title company closing the transaction never received these instructions nor were they included on any emails when the bank wire instructions were sent from the seller to their attorney.
On May 12, 2023, the title company received bank wire instructions from the seller’s attorney directing seller proceeds to an account at Citibank®. On May 15, 2023, the bank wire instructions were verbally verified with the attorney.
The attorney did not mention to the title company that they received initial wire instructions for an account at Bank of America. Later, the "Seller" (who was a fraudster using a spoof email account) switched the instructions to an account at Citibank.
On May 17, 2023, a wire transfer in the amount of $1,944,378.86 was sent to the account at Citibank by the title company. The seller did not receive their proceeds and called the attorney.
The attorney called the title company to find out where the seller proceeds were sent and during the conversation, he mentioned the wire instructions changed from
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