Please ensure Javascript is enabled for purposes of website accessibility

Cyber thieves steal from escrow company

The Associated Press//July 1, 2013//

Cyber thieves steal from escrow company

The Associated Press//July 1, 2013//

Listen to this article

HUNTINGTON BEACH, Calif. — Authorities say cyber thieves hacked into an Orange County escrow firm’s bank account and wired more than a million dollars to China and Russia.

State officials shut down Huntington Beach-based Efficient Services Escrow Group following three separate thefts in December and January, the Orange County Register reports.

The bank managed to recover $432,215 sent to Moscow, but at least $1.1 million remains missing.

Peter A. Davidson, the state-appointed conservator in the case, said 41 real estate transactions were hindered by the thefts.

Officials say the case is one of several nationwide in which cyber thieves used malware and other computer viruses to gain passwords, empty a business’s bank account and wire the cash to overseas accounts.

Upcoming business events

See the full list of events here

Beyond The Skyline Podcast

    Beyond the Skyline is a podcast and video interview about economic development, real estate and construction in Minnesota.

    Listen here