Wire Fraud Warning
Everything in your real estate transaction is going smoothly and you are ready to send your money to escrow. Just a few steps in the transactions and you will have your dream house. Even though everything seems to be going well, you’ll need to be very aware of wire transfer fraud.
How does wire transfer fraud happen?
When wire transfer information is emailed to the buyer, sometimes that information gets “hacked” and replaced with false wire transfer information. In order to confirm that this doesn’t happen to you, contact the escrow company via telephone (not the phone number in the email or wire transfer instructions, but once you have obtained independently) to confirm that the information you were provided is accurate.
When it comes to your real estate transactions or any transactions that involve money, you should always be careful as there always scammers lurking everywhere who steal data, information and even money via wire fraud
Below are three steps to make sure you don’t fall victim of wire fraud. (Source: California Association of Realtors Infographic)