Home Buyers in Danger of Fraudulent Wire Transfers

Home Buyers in Danger

Home buyers are in danger due to a huge scam taking place in the buying/ selling of real estate. The scam has gotten to a level now that many real estate agents and lawyers are having buyers and sellers sign warning notices of the potential of wire fraud and that they should NEVER send any money via wire based on an email only.

Links that may be of interest.

This is from Reese Nichols, a real Estate firm in Kansas City. Video with Warning

Here is a fairly detailed document on showing how its done from Clareity Consulting
Reducing the Risk of Real Estate Wire Fraud

And finally a simple Cartoon video that does a really good job of reviewing the how its done and how to avoid it.

Basic Steps:

Beware of Phishing attacks. e-mails that look like they are coming from reliable sources, but ask you to change passwords, or put in security information are mostly not legitimate. The links take you to sites that may look real, but are hosted and controlled by the “bad guys”. If you want to change your password, go to the site you normally log into and change it from there.

Read carefully any emails that you get. If they are “mostly” right, but some of the language or wording looks odd, it is likely bogus.

DO NOT open any attachments from unknown senders or unexpected emails. These often include leading statements such as

  • Please review the attached invoice, your credit card will be charged in 5 days.
  • Please review the Attached Itinerary from your cruise.
  • Unable to Deliver your item, please open that attached shipping label

Contact us with any questions.




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