What is Real Estate Wire Fraud?
Hackers try to steal money that is being wired for a real estate purchase by emailing fake wire instructions to the buyer before settlement. Criminals will steal an email address and logo to make it look like the email came from your real estate agent or title company. If you follow these fake instructions, the money will go into the hacker’s account. Follow these tips to protect your money:
- Call, don’t email: Confirm your wiring instructions by phone using a known number before transferring funds. Don’t use phone numbers or links in the email.
- Be suspicious: Beiler-Campbell Agents and Delaware Valley Financial DO NOT email wiring instructions and it’s very uncommon for title companies to change wiring instructions.
PROTECT YOUR MONEY
- Confirm everything: Ask your bank to confirm the name on the account before sending a wire.
- Verify immediately: Within 1 hour, call the title company or real estate agent to confirm they received your money.
WHAT TO DO IF YOU’VE BEEN TARGETED
- Immediately call your bank and ask them to issue a recall notice for your wire.
- Report it to www.IC3.gov and call your regional FBI and police.
- Detecting that you sent money to the wrong account within 24 hours is the best chance of recovering your money.