RESOURCES

HOW YOUR MONEY GETS STOLEN

1. Hacked email – Hackers get access to the email account of someone involved in the transaction – the buyer, seller, real estate agent, mortgage lender, title agent, or other.

2. Email from hacker: The hacker then emails that person to change the wiring or payment instructions without the other parties' knowledge.

3. Consumer pays wrong account—If not questioned, the wrong account receives the down payment or other funds, and the criminal gets away.

4. Closing day—By the time closing day arrives and the mistake is realized, the funds are often long gone.

HOW TO AVOID WIRE FRAUD

Rule 1: Always question emails that contain wiring instructions.
Hackers have learned to exploit the real estate closing process to steal millions of dollars from people buying or selling a home.

Rule 2: Always call before sending any money.
When you receive instructions on where to send money before closing, always call your contact person at Title Management Group to verify. Then call your bank to confirm as well.

Rule 3: Always call after sending money.
It's always a good idea to call right after the money is sent to verify that the correct recipient received it.

Rule 4: Act immediately if anything seems unusual.
If anything is in question, contact your bank, mortgage company, and Title Management Group immediately. You may need to contact your local FBI office if something is wrong.