Protect Yourself from Wire Fraud

Protect Yourself from Wire Fraud

Every day hackers try to steal money by emailing fake wire instructions.  Hackers will use a similar email address, steal a logo and/or other information to make it appear as if the email came from your real estate agent, attorney or title company.  You can protect yourself and your money by following the following steps:

  1. Be Vigilant:

– Call, don’t email. Confirm your wiring instructions by telephone using a known number before transferring funds.  Do not use the phone number or link from an email.

– Be suspicious.  It’s uncommon for title companies or attorneys to change wiring instructions and payment information by email.

  1. Protect Your Money:

– Confirm everything. Ask your bank to confirm the name on the account before sending a wire.

– Verify immediately. Within 4 to 8 hours, call the title company, real estate agent or attorney to confirm receipt.

  1. What To Do If You’ve Been Targeted

– Immediately call your bank and ask them to issue a recall notice for your wire.

– Report the crime to www.IC3.gov.

– Call your regional FBI office and the local police

– Detecting that you sent money to the wrong account within 24 hours provides the best chance of recovering your money.

We are here to help.  Please feel free to contact me with questions or concerns. Real Estate transactions are fraught with challenges today. Being prepared is the best defense. My expertise can you prepare for such challenges.  For more information contact me at (203) 544-9945 or beth@eedwardslaw.com.

 

 

Source: The American Land Title Association

 

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