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Posted about 5 years ago

Wire Fraud in Real Estate

I can't stress to you enough about the importance of making sure that you are not getting scammed when you wire a down payment to your escrow company for a home.  People are getting scammed and you may not even realize it.  Hackers are hacking into escrow companies emails and tracking transactions.  They are able to get every pertinent piece of information about you.  Then they send you an email acting as the escrow company with instructions on how to wire them the down payment.  The buyer sees the email and thinks nothing of it.  It looks exactly like every other email that they received over the course of the transaction.  The only thing is that it is not.  As soon as you hit enter, that money is now in an overseas account most likely never to be seen again.  Many people have been hurt and families have lost their entire life savings.  Don't let this happen to you.  Double, no triple check with whoever you are sending money to.  Call them and verify that they sent the email.  I even say, get a cashiers check from the bank and drive it down to the escrow company if you can.  You can never be to careful.  This subject has been getting a lot more attention as of late in the news.  It has become all to common.


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