You may already know about the scam that I read about on Realty Times this morning…
If not, then be forewarned. The telephone, the printed word, or an in-person meeting is still the best way to keep sensitive information away from the vultures who would prey on your clients.
It seems that hackers are getting into real estate professionals' email accounts to gather information, then using that information to divert closing funds on their way from a buyer's account to a closer's account.
I can't imagine how it must feel to have thousands of dollars intended for a down payment and closing costs to suddenly disappear. For many, if not most, it would mean no new house – and perhaps no new house for a good long time.
And of course, it would mean no commission check for you.
The whole issue could be prevented by simply using the telephone in place of email – or by writing an actual paper letter or sharing the information in person.
If you missed the article, you'll find it here: http://realtytimes.com/consumeradvice/buyersadvice1/item/41183-20151229-hackers-continue-to-perpetrate-wire-transfer-fraud-in-real-estate-transactions
Keep your clients safe - pick up the phone.
Vulture courtesy of morguefile.com
Comments (24)Subscribe to CommentsComment