Real estate wire fraud is a growing threat in today's digital age, and it's crucial to take steps to safeguard your financial information and transactions.
Here are some quick takeaways to keep in mind:
- Verify Wiring Instructions in Person: Before transferring any funds in a real estate transaction, confirm the wiring instructions in person. It's essential to pick up the phone and call a known number to ensure the accuracy of the details.
- Avoid Emailing Financial Information: Never send your financial information via email. Email communication is vulnerable to cyberattacks, and sensitive data should be shared through more secure channels.
- Ensure Website Security: When providing financial information online, make sure the website is secure. Look for a URL that begins with "https" and double-check the web address by typing it in manually. Be cautious of clicking on links in emails, as they can lead to fake websites.
- Beware of Email Attachments: Exercise caution when opening email attachments or downloading files, even if they appear to be from trusted sources. Malware can compromise your computer's security and lead to data breaches.
- Keep Software Updated: Regularly update your operating system, web browser, and security software. Software updates often include critical security patches that protect your system from vulnerabilities.
Real estate wire fraud is a serious threat, with thousands of victims and significant financial losses reported each year. By staying vigilant and following these quick takeaways, you can reduce the risk of falling victim to wire fraud and protect your financial assets in real estate transactions. Stay informed and take proactive steps to ensure your security in the digital real estate landscape.
Source: How Title Companies Are Combating Wire Fraud, Housing Wire, Jan. 4, 2023
