Savvy Cyber Security
September 10, 2018
It's a good idea to keep an eye on wire instructions provided for capital calls. When in doubt, call us at CWC to confirm! #cybersecurity #cybertips #cwcculture #chrisweil #wireinstructions #whenindoubtcallus
We want to pass on some information regarding capital calls for alternative investments like Nexus. We recently learned of an attempt by e-mail hackers to swindle a client of another investment management firm (a firm not affiliated with Christopher Weil & Company, Inc. and CWC Asset Advisors, Inc.). One of the firm’s customers received instructions to wire funds pursuant to a fake capital call notice. The notice looked like notices the firm had sent out in the past, but raised suspicions because it was accompanied by instructions for funds to be wired to a different account (an account, it turned out, controlled by the hackers). So, one red flag to be aware of in responding to capital calls is a change in the destination to which funds are to be sent (wire instructions different from those used for previous calls). You will see that the notice of capital call we send out next week will have the same wiring instructions as previous capital calls. In addition, however, as with any movement of material amounts of money, you should always feel free to call the intended recipient (in this case, us here at CWC) and confirm that the instructions are proper.