Don’t fall for a title-related wire fraud scam! Often they come in the guise of wire instructions for sending money to your title company as part of your escrow/closing process. And the email address may even look like it is coming from your title company.
If you get anything like that, call your title company before wiring any money, and verify that they sent it! And if you work at a title company, warn your clients about this!!!! And be on the lookout yourself—I get scam emails all the time too, asking me to open documents related to a title search, documents with spam-viruses. Fortunately, I know what they look like, and I’ve been able to avoid them.
Here’s an article that is a cautionary tale about all this: Homebuyers lose $30K in wire fraud scam involving title company
In an increasingly dangerous world, there is one company you can always trust—Real Title Services! Let us know if we can help you with your title searches, document retrievals, or tax reports.
Have you been scammed? Have any opinions about all this? Leave a comment below!
DON’T HAVE TIME TO READ THE FULL ARTICLE? HERE’S SOME KEY INFO FROM THE ARTICLE:
Homebuyers lose $30K in wire fraud scam involving title company
“First American conducted a thorough investigation into this matter and concluded the customers were unfortunate victims of a spoofed email sent from outside of our network that contained fake wiring instructions.
Phishing attacks from fraudsters using spoofed emails purporting to be companies or organizations are increasingly common and sophisticated. Incidents like this are why First American Title regularly promotes awareness of wire fraud prevention best practices to consumers, including encouraging real estate agents to educate buyers early and often on wire fraud prevention and providing consumers written and verbal warnings at multiple points during a transaction.”
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