Wire Fraud

Have you closed on a home lately? If not make sure you read this, first.

What you’ll want to know about wire fraud. What is wire fraud? Wire fraud is an act of fraud that uses electronic communications, such as making false representations on the telephone or via email, to obtain money.

How does wire fraud work? Wire fraud occurs when a fraudster obtains money based on false representation or promises. For example, you may receive wire instructions which appear to be from your title company, real estate agent, or lender, when in fact they are from a fraudster.

Recommended precautions to protect yourself from WIRE/ACH FRAUD;

  • Verify that the wiring information you received is from your title insurance company by contacting them at a valid phone number, not one provided in a potentially fraudulent email.
  • Do not share your online banking logon credentials (user ID and password) with anyone.
  • Never access your bank account using a public computer (e.g., at the library or a hotel business office).
  • Install a firewall on your computer to prevent unauthorized access.

This information has been provided by First American Title of Vero Beach FL. 32960. They can be reached at 772-217-9117. Feel free to let them know that Paula at Watson Realty gave you the contact information.

There is always more to know about Title and Real Estate. Free free to contact me as always.

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