How Law Firms Can Prevent Banking Email Compromise Scams
Eliminating Fund Transfer Fraud in Legal Transactions
The Growing Threat: Banking Email Compromise in Law Firms
Law firms dealing with property settlements, trust accounts, and high-value transactions are increasingly targeted by cybercriminals using email compromise scams.
The Scam:
Cybercriminals hack into email accounts and impersonate a law firm or client, sending fraudulent banking details to redirect large sums of money to offshore accounts.
The Impact:
Clients lose funds, often irrecoverable.
Law firms suffer reputational damage and potential legal liability.
Firms must manually call each client to confirm bank account details—creating administrative burdens and slowing transactions.
How Law Firms Can Secure Client Transactions
Use Secure Identity & Bank Verification Tools
Instead of relying on emails for bank details, firms should use encrypted platforms that verify the client's identity before fund distribution.
Automate Account Verification to Eliminate Manual Calls
Law firms should implement secure, automated workflows to verify bank accounts without calling every client—saving time and reducing human error.
Protect Client Data with End-to-End Encryption
Prevent unauthorized access to sensitive financial information by removing email from the process entirely and using a secure document exchange platform.
How My Databoss Protects Law Firms from Banking Email Scams
Encrypted, Verified Bank Transfers
Clients securely submit banking details through a protected portal, ensuring only verified accounts are used for transactions.
Multi-Factor Authentication (MFA) & Biometric ID Verification
Ensure that only the real client can approve fund transfers, preventing fraudsters from impersonating them.
Secure Communication Channels
Replace vulnerable email-based fund confirmations with a fully encrypted, end-to-end secure platform.
Automated Verification Workflows
Reduce manual client calls while ensuring every transaction is verified, logged, and compliant.
With My Databoss, law firms eliminate the risk of banking fraud—while reducing compliance burdens and improving client trust. Protect your firm and your clients.