Owning a home is part of the American dream and is an exciting time
for your clients. But as your clients are preparing to get the keys to
their new home, hackers and cyber thieves are looking to turn your
clients dream into a nightmare. Wire fraud scams are a growing problem
that can cost your clients a huge financial loss. |
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According to American Land Title Association, here are some best
practices to help protect your clients: |
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Call, don’t email: Ask your clients to confirm all wiring instructions
by phone before transferring funds. Use the phone number from the
title company’s website or a business card. |
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Be suspicious: It’s not common for title companies to change wiring
instructions and payment information. |
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Confirm it all: Ask the recipient to confirm not just the account
number but also the name on the account before sending a wire. |
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Verify immediately: Have your client call you or the title company
to validate that the funds were received. If your client detects that
the money was sent to the wrong account within 24 hours, it gives
them the best chance of recovering their money. |
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Forward, don’t reply: When responding to an email, hit forward
instead of reply and then start typing in the person’s email address.
Criminals use email addresses that are very similar to the real one for
a company. By typing in email addresses makes it easier to discover if
someone is trying to commit fraud. |
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If your client feels like they have been a victim of wire fraud, have
them call their bank immediately and issue a recall notice for the wire
transfer and report the crime to www.IC3.gov. |
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| For more information, contact me today. |
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