Wire transfer fraud: Confirm before you wire

first_imgWire fraud is not a new crime. Many criminals have engaged in this activity in the past and will continue to do so in the future. But wire fraud has taken a new twist in the age of electronic communication.We have seen hackers spoof emails and send instructions from what appears to be an executive to an administrative assistant or the accounting department with instructions to wire thousands of dollars to a particular account. If the wire is sent, the funds are unlikely to be recovered unless the FBI is notified within a very short period of time. Typically, the financial institution is not liable for the misdirected funds, because its account agreement contains language allowing it to rely on the client’s instructions. On that note, credit unions should review their account agreements with members to ensure they are able to rely upon the instructions given by a member, or that appear to be given by a member.More recently, hackers have begun injecting themselves into transactions, such as real estate and commercial transactions between sellers and buyers. If a hacker is able to obtain the credentials of a lawyer, real estate agent or company inside—and this is not difficult for those who are adept at phishing and social engineering—then the hacker has access to details about the transaction, such as the parties involved, their email addresses and the property or assets to be sold. 15SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

Mayor calls out council members who voted ‘no’ on bulletproof vest resolution honoring fallen officer

first_imgBinghamton City Council members Angela Riley and Aviva Friedman confirmed to 12 News that they voted against the proposal. The resolution is broken down into four parts: Friedman also told 12 News she took issue with the tone of one clause expressing unwavering support for law enforcement in general. The two council members were not named directly, but the mayor called their votes “disturbing” and “concerning.” “I very much wanted to pass this resolution, but the resolution in its original form had some clauses in it that I didn’t feel were appropriate for a resolution that was memorializing somebody,” Friedman said. “I felt that there were some clauses in the resolution that were needlessly politicizing this.” Both women said they voted against the proposal because it did not solely focus on Officer Barta and his memory. “This is not something that you are reading about in another city,” Mayor Rich David said, referring to Friday’s incident. “It is equally frustrating and concerning when you have members of city council, in this case two specific members of city council, who just within the last week or so voted not to support a resolution that honored the sacrifice of Patrolman Lee Barta…” center_img 12 News reached out to Riley and Friedman after the mayor’s news conference about their votes. One part acknowledging general support for policeOne part honoring Barta and other fallen officersOne part advocating for more resources, including bulletproof vestsOne part calling on the city council to provide tools to protect officers and community members. Mayor Rich David said a bulletproof vest is the best resource an officer can have, and the resolution was drafted to honor fallen Binghamton Patrolman Lee E. Barta. BINGHAMTON (WBNG) — During a Wednesday afternoon news conference announcing details of a violent encounter between the Broome County Special Investigations Unit Task Force and an armed man, the mayor of Binghamton called out two city council members for their “no” vote on a proposed bulletproof vest program honoring a fallen officer. Friedman also said the Lee Barta Community Center is in her district and she said the center provides amazing support and services for her constituents.last_img read more