Wire Fraud in Real Estate: How to Protect Your Transactions
Wire fraud is a growing concern in real estate, with hackers targeting buyers, sellers, and agents in high-value transactions. Here’s how to protect yourself and your clients.
1. Be Wary of Email Communications
Scammers often pose as real estate professionals and send fraudulent wire instructions. Always verify wire instructions directly with your title company by phone.
2. Use Secure Communication Channels
Avoid sending sensitive financial details via email. Use encrypted messaging services or secure portals whenever possible.
3. Educate Clients on Red Flags
Real estate agents and lenders should inform clients about common wire fraud scams and advise them to verify payment details before transferring funds.
4. Confirm Wire Instructions with a Trusted Source
Before sending any funds, call your title company using a verified phone number to confirm details. Never trust last-minute email changes.
5. Work with a Trusted Title Company
At The Title Link, we take every precaution to safeguard transactions from fraud, providing clients with a secure and trustworthy closing experience.
For more information on wire fraud and how we safeguard against it, give us a call at 239-423-5465 or email us at info@thetitlelink.com