FRAUD ALERT – TAKE CARE WHEN WIRING MONEY
April 5, 2016 | Buying
April 5, 2016 | Buying
WARNING!
Heads up on a growing scam!
“Wire Fraud” (when you wire money to someone), can affect you during a real estate transaction, but also in many other financial dealings. The latest online threat is costing consumers more than a billion dollars a year.
Here’s an example of how wire fraud can affect you – we’ll use a real estate transaction as an example:
Imagine you receive an email, forwarded to you by your real estate agent. The email is from a title company giving you instruction on where to wire money you need for a closing on a house you are buying.
There’s an unseen problem, however.
Somewhere along the way, as the email was passed from title company – to agent – to you, a “hacker” got access to it. It might be by hacking the title company’s email system or by hacking the email system of you or your agent.
Here is the VERY SIMPLE SOLUTION if you have to wire money to a company or institution:
These common sense precautions will go a long way to keep you from being a victim of the newest cyber-crime.
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