Legal Seminar, Chicago, IL

Choice Escrow (8th Cir. 2014)

 Choice Escrow, a real estate escrow company  Used online wire transfer system provided by bank  Sent many wires on irregular basis—no pattern to use  Fraudsters took $440,000

Choice Escrow Security Procedure

 User 1 enters user ID and password  User 1 authorizes wire transfer via online portal  User 2 enters user ID and password  User 2 authorizes transfer via online portal  Daily limits for each user  Daily limits for total activity