Are you the Weakest Link?

By
Title Insurance with Key Title Corporation 63078

Cyber-crime in the real estate industry is not necessarily NEWS but the scams are getting more and more sophisticated.  Hackers are using your own e-mails to gather information about upcoming settlements.  These hackers are very patient and very smart. 

As a real estate agent you need to worry about your reputation as well damages that may be incurred by your customers and clients.  The hacked company risks lawsuits, company reputation and financial ruin.

A common scam running rampant now is the "wire" scam. The hacker use software to enter e-mail accounts to obtain information about upcoming transactions.  From there, the software pretends to be the real estate agent and asks recipients to wire funds to a bank account.  The bank account belongs to the hacker, NOT the title agent or the real estate agent.  By the time its realized that the system has been hacked it's often too late.

What can you do to protect yourself, your company and your clients?

 

  • Don't use FREE e-mail providers for business
  • Have quality anti-virus, firewall and security protection on all computers.
  • Beef up security with strong passwords with a mix of numbers, symbols, upper case and lower case letters
  • Secure your wireless network with passwords and don’t use free WiFi for personal or professional use
  • Transmit all contracts, addenda and other communications to all parties involved in the transaction  via encrypted mail only
  • Urge your clients to call the Realtor, the title agent or the lender before responding to any instructions in e-mails to insure validity

Working together we can at least minimize the risk to ourselves, our companies and our clients.

 

- Charlene Perry, CLTP

 

Posted by

Charlene Perry
Key Title, Inc. 
35 Fulford Avenue
Bel Air, MD 20104
410-803-4800

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Rainmaker
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Paul Antonelli
Antonelli Realty - Saint Cloud, FL
Broker Owner; Antonelli Realty

Yes, great sharing.  Unfortunately, this is coming up so often. I have heard of this happening to a few people I know. We need to be extra vigilant and take all precautions. Even if it means re-confirming information by phone or text.  

Mar 06, 2017 11:26 AM #1
Rainmaker
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Elva Branson-Lee
Solid Source Realty GA - Atlanta, GA
CDPE - Atlanta Real Estate & Short Sale Agent

Good advice, Charlene. I hope that agents truly take heed, as this is a growing problem in our industry. Real estate agents are particularly vulnerable to scammers because our contact information is always out there.

Apr 06, 2017 05:21 AM #2
Rainmaker
1,813,055
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Thanks for the tips ! It's amazing how these folks spend so much time in inventing new ways to do crime !

May 01, 2017 09:14 AM #3
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CHARLENE PERRY, CLTP

Insuring the Past to Protect Your Future
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