It’s a business broker’s worst nightmare.
The sale is complete, documents are signed, and the closing attorney has done his/her work. But somehow the funds have gone missing! Wired funds can be stolen so easily today.
Find out how you can protect yourself and your clients from this fiasco at the Sept. 28 meeting of the Georgia Association of Business Brokers. The meeting will start at 10 a.m. The meeting, which is free and open to the public, will be held only online (see Zoom registration directions below). Regretfully, one of our speakers was exposed to COVID-19 and is unable to attend in person; we will be back to meeting in person as soon as we can do so in line with the guidelines set out by the CDC.
A closing should mean that the seller gets paid. Usually, the buyer wires in their down payment, the attorney develops and sends out a closing statement the day before the closing, and everyone agrees with his/her numbers. Unfortunately, a buyer will sometimes send over wiring instructions via email and those instructions get phished and the instructions end up in the wrong place! The buyer or the seller may lose their money; in some cases, millions of dollars.
Brian Harper, Senior Vice President and SBA Division Manager of Atlantic Capital Bank, and Ricky Robertson, Atlantic Capital Bank’s Operational Risk Manager, will speak about best practices from a security standpoint. Find out from the experts how to avoid getting scammed during an electronic transfer.
Ricky Robertson began his career in law enforcement and spent six years as a detective concentrating mostly on investigating white collar crime. During his time in law enforcement, Ricky completed computer forensic investigations and served as the commander of the crisis negotiation team. Over the past 14 years, Ricky has worked in banking in the Information & Corporate Security fields. As Atlantic Capital Bank’s Operational Risk Manager, Ricky’s main job responsibilities include Corporate Security, Information Security, and Operational Risk. He has a Bachelor’s degree in Management Information Systems and earned the Certified Protection Professional certification from ASIS International.
Mr. Harper has more than 25 years of business banking and lending experience and ample experience handling multi-million dollar transactions. He is a member of the Rotary Club of Dunwoody, Junior Achievement, Georgia Lenders Quality Circle, National Association of Government Guaranteed Lenders, the Georgia Association of Business Brokers, Our Lady of Assumption Church, is a coach for Murphey Candler Baseball and a board member of the Georgetown Recreation Center.
To join the meeting via Zoom, please register in advance for this meeting at this link. After registering, you will receive a confirmation email containing information about joining the meeting.
Claudia Wilson, Vice President, SBA Relationship Manager at SouthState Bank, is sponsoring the meeting.
The GABB is the state’s preeminent organization of professionals involved in the purchase and sale of businesses and franchises, and operates the state’s only real estate school devoted to business brokering. For more information about the GABB, contact GABB president Judy Mims at firstname.lastname@example.org or at 404-918-3666; or email email@example.com or text 770-744-3639.Read More