Ethics Story: Out Of Sight. Out Of Mind. Out Of Country. Out Of Luck.
Slaw's "Cyber Crime Example of the Importance of Reconciling Your Trust Accounts Each Month" tells the story of the cybertheft of $1.5 million from a California escrow firm's trust account. According to a petition filed by the California Department of Corporations (DOC), thieves wired $432,215 to an account in Moscow on December, 2012, then more than $1.1 million in January, 2013, to an account in China. The funds were stolen from more than 100 escrow accounts. The escrow company reported
the theft in February, 2013, two months after the first unauthorized transfer. It was able to recover the wire sent
to Moscow, but not the funds wired to China.