ALERT: Wire Fraudsters Targeting Real Estate Transactions

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  1. Steve Freeman

    Your advice: “If a situation arises in which you have no choice but to send information about a transaction via email, make sure to use encrypted e-mail.” falls short. How about a recommendation for encrypted email products?

  2. The title company usually emails a PDF of the wiring instructions with notes regarding the specific transaction. I’m not sure how we get around that. Maybe we return to the days of faxing everything.

    Thanks for the informative article. I had no idea this was going on.

  3. I have received emails from Title companies requiring funds by wire only with out acknowledging the risks or offering an alternative. We have experienced that wire transfers take several days to occur. There must be another way.

  4. Real1

    I have recvd several fraudulent emails and have forwarded them to MRIS, this is scary and a solution must be found immediately, our clients and the Realtor are all at risk, and I agree with the previous person, we should go back to faxing until a solution is found, we all must put our heads together and find one.

  5. Kate Rose

    Where is the verbiage for us to put on our email signatures warning clients about this latest stealing the down payment scam? I have been looking and reading all over and can’t find it.

  6. Robert Freedman

    Kate, you can get that at this URL:
    http://www.realtor.org/law-and-ethics/wire-fraud-email-notice-template

  7. This is scary stuff. I had my email account hacked several years ago. The hacker was sending out emails to my clients. One client called me because they thought the email was strange. That is how I found out it was hacked. I immediatly changed my password. I created a new email account and shut the hacked email account down. It tool a long time to shut down the email because all my past clients had the email address.

    A real pain.

  8. It’s too bad we have to worry about stuff like this. I suppose that there will always be crooks. I just hope one day the powers to catch them are stronger than their abilities to do harm.

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