3 Ways to Protect Yourself from Wire Fraud at Closing!

Reblogger Kasey & John Boles
Managing Real Estate Broker with Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com Designated Broker DB29503

This information is important for everyone to follow -  Know there is a scam and know how to handle it if an email like this comes to you.  Be careful out there!

Original content by Kerry L Klun, Broker/Owner BK3273458

Palm RealtyWell the scammers are at it again! The FTC (Federal Trade Commission) and NAR (National Association of Realtors) have announced that hackers are breaking into the e-mail accounts of Realtors and Title Companies looking for upcoming closing information. Once they have accessed those accounts, they pose as the Realtor or the Title Company and e-mail the Buyer of the upcoming transaction. They tell them that there has been a "last minute change"  in the wiring instructions of where the Buyer should wire their funds. If the Buyer takes the bait, they wire their funds to the hackers and lose their money.

So what can you do?

1.) As a Buyer, talk to your Realtor and Title Company.

2.) Verify wiring instructions with a simple phone call to the Title Company.

3.) Do not conduct your business over a public WIFI connection.

E-mail is never totally secure, and this scam is both sleezy and brilliant at the same time!

Kerry

 If You have any questions about homes on the Space Coast, the Treasure Coast or in the greater Orlando area, please contact me at  321-626-5968.  Visit us on the web at

www.PalmRealty.com

Posted By: Kerry Klun - 321-626-5868
kerry@Palmrealty.com

Palm Realty

             

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Rainmaker
1,502,863
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Communication is very important. It does not to confirm with everyone your wire. Pick up the phone and CC to everyone on your team: escrow team, your RE agent and title rep. 

Jan 25, 2017 11:30 PM #1
Rainmaker
5,576,041
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is a timely selection for a reblog and good information to share.

Jan 26, 2017 03:23 AM #2
Rainmaker
509,831
Alexander- Slocum
Premiere Property Group, LLC - Vancouver Washington - Vancouver, WA
Realty Team- Vancouver WA Real Estate

Hi Kasey and John, we are being warned of this scam through our state board.  We always encourage our customers to talk directly with the Title/Escrow company for all $$$ matters - far, far better to be safe than sorry.  Thanks!  John and Kat

Jan 26, 2017 05:49 PM #3
Ambassador
2,909,912
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

while we're not a title company state, but an attorney closing state the same holds true and this is important information that all agents should tell each buyer the minute they are ready to make an offer

Jan 27, 2017 06:46 PM #4
Rainmaker
3,261,413
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

What a great re-blog and yes the scammers are upping their game.... Now only encrypted wire instructions come from Escrow and it is preempted with a call before from the Escrow Staff... if no call and if not from the Escrow Co than just delete it... Endre

Jan 27, 2017 07:18 PM #5
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Rainmaker
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Kasey & John Boles

Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties
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