Important Wire Fraud Alert for Home Buyers
Realtors®, Real Estate Brokers, Buyers and Sellers are targets for wire fraud and many have lost hundreds of thousands of dollars because they simply relied on the wire instructions received via email.
A hacker may break into a licensee’s email account to obtain information about upcoming real estate transactions. After monitoring the account to determine the likely timing of a close, the hacker may send an email to the buyer, posing either as the escrow agent or as the licensee. The fraudulent email may contain new wiring instructions or routing information, and request that the Buyer send funds accordingly.
Ticor Title is urging our clients to CALL BEFORE YOU WIRE and never rely upon email communication.
Always follow these two simple steps:
Obtain the phone number of your Real Estate Broker, Realtor® and your Ticor Title Escrow Officer as soon as an escrow is opened.
Call the phone number you wrote down from step#1 above to speak directly with your Ticor Title Escrow Officer to confirm wire instructions PRIOR to wiring. If you receive alternative wiring instructions from Ticor Title, be suspicious as we rarely change our wiring instructions.
ALWAYS CALL BEFORE YOU WIRE.
When in doubt, always call our office or your escrow officer.
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