Sophisticated Email Scams

Email Scams Targeting Real Estate Transactions

Internet hackers ae targeting real estate transactions with a sophisticated email scam. They are hacking into the email accounts of realtors and tricking others involved in a transaction often the buyer into a fraudulent wire transfer.

They’ll send an email saying there has been a change to wiring instructions and buyer’s will transfer funds directly into the hackers account which is cleared in minutes, the funds often untraceable and lost forever.

During this high season real estate professionals, escrow officers and their clients are urged to be on high alert and never let their guard down. This same time last year the National Association of Realtors issued an alert regarding a similar scam, though hackers are evolvong and on the rise.

Prevention Tips:

If you receive a suspicious email immediately contact all parties involved in the transaction.

If possible do not send sensitive information via email.

Prior to wiring money contact the intended receipient through the verified phone number.

Never use unsecured wifi to conduct business.