Hackers will not only try to steal your information; they’ll try to steal your money. With similar email addresses and stolen logos, they can make emails look like they came from a real estate agent, lender, or title company containing fake wire instructions. Protecting yourself and your clients is crucial. You can do this through a few easy steps.
Confirm
Always confirm your wiring instructions by phone. Don’t use phone numbers or links from an email. Instead, look up the phone number or web page you want to visit. It’s uncommon for title companies to change wiring instructions and payment information by email. If you’re ever in doubt, call us directly to confirm the information you have is up to date.
Verify
Check with your bank and have them confirm the name on the account before sending a wire. Once you’ve sent your wire, call your title company or real estate agent within four to eight hours to confirm they have received your funds. If you think your wire was sent to the wrong account, immediately call your bank, and ask them to issue a recall notice. Noticing that you sent money to the wrong account as soon as possible is vital; the highest chance of recovering funds is within the first 24 hours.
Report
After contacting your bank, you’ll want to report the crime. The IC3 accepts online Internet crime complaints from both the victim and a third party. To submit a complaint, visit their website at www.IC3.gov and call your regional FBI office and police department.
Above all, protect yourself and your clients; always call to confirm wire instructions, stay up to date on your security practices, and double-check everything! Call the involved parties and check with them if you’re ever in doubt!
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