Wire Alert!
Almost every real estate transaction these days includes at least one bank wire transfer, and fraudsters are on the rise. We highly recommend taking these steps throughout your real estate transaction to ensure you don’t become a victim of wire fraud. These best practices can eliminate most wire fraud attempts.
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- Check email addresses closely and make sure they are completely right.
For example, @entrprisexyz.com or @eterprisexyz.com can be easily mistaken for @enterprisexyz.com. The smallest missed detail could be your biggest regret. - Look for poor spelling and grammar.
The body of the email could have poor grammar, awkward phrases, strange tone, a receiving bank in an unusual country or missing elements like an email signature. Do not respond to these types of emails. - Always call your Title Company to verify wire information.
We recommend calling us to confirm the wire instructions before going to the bank. If an email shows up stating that the wire instructions have changed, DO NOT respond! Our wire instructions will NEVER change. Take the time to call, and remind your clients to do so, whenever things seem out of the ordinary. Better safe than sorry.
- Check email addresses closely and make sure they are completely right.
