You never think it’s going to happen to you…It all starts with a suspicious email that looks innocent enough. You are to wire the closing costs and/or downpayment to your title company or risk delay in the closing date! You are busy, tired, and perhaps just ready to close on your new house. You don’t think about the fact that the email might not really be from who it says…after all, the address line looks real enough. Right?
Wrong! Scammers are tricky and here’s how to avoid losing thousands of dollars to their schemes!
5 Tips to Avoid Wire Fraud
Where are your devices logged in and when was the last time you ran a security check? It might be time to change some passwords. That would be the first thing to do before responding to the email that is possibly a scam.
Do NOT reply to the email ever if something seems a little off. Your bank, your credit card companies, and your lender all have phone numbers. Look up the phone numbers, and the emails that they might really have on their website. Know who you are dealing with first.
Get the name of everyone you would be expecting to contact you, and forward the email to the real company if you are unsure, but again, don’t hit reply to that email address.
Be suspicious of any changes sent to you in email unless your real estate agent has contacted you first. Why would the lender or title company start changing things without your real estate companies knowledge?
Beware of phone calls unless you have also called them. There is a way to “spoof” a number and make it appear it is from somewhere legitimate, but ask for their name and contact information and tell them you’ll call them right back (after you call your agent, bank, title company or whoever it is that they are saying they represent).
It does happen more than you would think! But it is preventable by being focused and not just scanning emails but really truly reading them and making sure you are diligent in your actions!
If you think you are a victim of wire fraud, please file a complaint with the FBI’s internet crime division.
If you are interested in learning more, watch this video here from the National Association of Realtors.
~Aimee Halpin, Contributing Author
