When scammers commit wire fraud, they intercept emails and track frequently visited websites in an attempt to compromise the wire transfer. The cybercriminal then sends a false message on behalf of parties involved in the loan transaction, often with instructions to transfer money.
Here are a few helpful tips to prevent wire fraud:
- Call your settlement agent directly for their wiring instructions.
- Never accept wiring instructions via email or a telephone call. Contact your mortgage representative with questions or concerns.
- Be sure to confirm all details associated with the wire transfer, including the account number and the name exactly as it appears on the account.
- After the transfer, verify with the title company or settlement agent that the transfer was a success.
To learn more about how to prevent wire fraud, call me today. I would love to discuss how you can safely purchase your dream home.
Published In Finance