Excited about closing on his new house, Furst Thyme Byer received emailed wire transfer instructions for his full $250,000 payment from his broker Chad at Chase N Rainbows Realtors. Complying with Chad’s instructions in the letter, Furst emailed Schneckner at Schneck’s Loans who wired the closing funds, as instructed, to what they both thought was In-O-Cent Title Company’s account. The next day, Ida at In-O-Cent Title called Furst looking for the money. Checking with Schneck’s Loans, Furst confirmed the funds were wired to the In-O-Cent Title account as directed. But In-O-Cent Title never received the money. The wiring instructions were bogus. They came from a similar email address, but it was not Chase N Rainbows’ – nor was it In-O-Cent Title’s bank account. Is anyone besides Furst responsible for the missing funds? If so, who? The title company? The mortgage broker? The real estate broker? Continue Reading Who Loses When Hacked Emails Send Wire Transfers to the Wrong Account?