The newest tactic for online scams is wire transfer fraud. These scammers are hacking into Realtor emails and lying in wait till it’s time to close escrow. At that moment, they send a FAKE email that looks legit instructing clients to transfer their closing funds to another account. The Realtors are unaware the email has been sent unless the client asks. If the client just believes the email and changes their wire instructions – they have sent their hard earned money to the scammers and will never see those funds again.
It is incredibly frightening for myself, a professional Realtor to think that my email could be hacked and faked and money stolen.
If at any point an email seems fishy, pick up the phone and call your Realtor or call your Escrow Officer to double check the wire instructions.
Wire Instructions come directly from the Escrow Officer – not the Realtor. Most Escrow Officers will call the client to get the information OR the wire instructions are completed at the time the loan documents are signed, in person with the client and Escrow Officer face to face.
This day in age, technology is King but nothing beats face to face interaction – especially for the largest purchase of your life. No Realtor provides Wire Transfer Information. Wire Instructions are part of the Escrow Process and will come directly from the Escrow Officers.
I try my best to keep my clients safe. I hope no one experiences this! For more information click on the link below from the National Association of Realtors.
I read this article at: http://www.realtormag.realtor.org/news-and-commentary/briefs/article/voice-for-real-estate?om_rid=AACmlZ&om_mid=_BXDP9rB9MJqMbl&om_ntype=BTNMonthly
Remember to follow our Blog at: https://therealestatebeat.wordpress.com/
Got Questions? – The Caton Team is here to help.
Email Sabrina & Susan at: Info@TheCatonTeam.com
Call us at: 650-568-5522
Want Real Estate Info on the Go? Download our FREE Real Estate App: http://thecatonteam.com/mobileapp
Visit our Website at: http://thecatonteam.com/
VISIT OUR INSTAGRAM PAGE: http://instagram.com/thecatonteam
Visit us on Facebook: http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834
Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city
Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw
Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro
Please enjoy my personal journey through homeownership at:
Thanks for reading – Sabrina
The Caton Team – Susan & Sabrina – A Family of Realtors
Berkshire Hathaway HomeServices – Drysdale Properties
Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008