Sharing this article on Wire Fraud in the Real Estate Industry because it scares me to death and it is more than just cyber security. Hackers are making COPY CAT emails – emails that look and feel like legitimate but perhaps one or several characters are different. Hackers are sending these fake emails to clients with alternate wire instructions. Meaning the client wires their hard-earned money to the scammer and not the title company. They wait till the client is in the thick of – it the middle of deadlines to send the email – in hopes the client misses the fact the email is NOT from their actual Realtor or Escrow team.
A few idea on how to stay aware of Copy Cat Emails.
SAVE ALL CONTACTS into your data base with their name, phone and CORRECT EMAIL. When any new emails come in that are not coming from YOUR CONTACT LIST – double-check it. CALL THEM! In fact, always double-check your reply emails or start a new email from YOUR Contact List.
Remove or Question any NEW NAMES in the From or CC portion of the email. KNOW AND SAVE ALL THE NAMES and contact info of all the various parties to YOUR Real Estate transaction. Your Realtor, lender, title and escrow officers, assistants etc.
ONLY YOU CAN PREVENT WIRE FRAUD. We as your agents DID NOT send you that email nor are we aware you received it. I try to over communicate with all parties to know when money is being sent, how wire info is obtained and when it is received. However these scammers are pretending to be us – and unless our clients are diligent they too can lose their hard-earned money.
Wire Fraud can happen at any time during the real estate process. So be diligent and double-check any emails with verbal communication. It if feels off – it is! Listen to your gut. Slow down. Take the time to be present when responding to emails. Hackers are feeding off our nonstop lives knowing we’ll miss the small details. As hurried as any Real Estate transaction can feel – nothing is worth rushing through the most important transaction of your financial life.
The more you know – the more we can prevent wire fraud.
I read this article at: Realtor Magazine – WIRE FRAUD Article
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