In the exciting world of buying or selling a home, there are hidden dangers you need to be aware of! Wire fraud schemes are lurking, posing threats to unsuspecting individuals like you. Brighton Bank is here to help you stay informed and safeguard your hard-earned money.
๐ Criminals are getting smarter by exploiting email communications, website forms, and phone calls to hijack funds designated for home purchases or property sales. They’re after your email credentials and monitoring your real estate transactions.
๐ซ Beware of emails containing wiring instructions; responding could lead to a swift loss of your funds. But fear not, we’ve got you covered with these protective measures:
1๏ธโฃ Gather Contacts Early: Establish reliable contact information at the onset of your transaction.
2๏ธโฃ Confirm Over Call, Not Email: Reiterate all wiring instructions via phone using verified numbers from the title company’s website or business card.
3๏ธโฃ Stay Alert: Watch out for unusual changes in wiring instructions or payment details.
4๏ธโฃ Double-Check Everything: Request your bank to affirm the recipient’s account number and name before executing a wire transfer.
5๏ธโฃ Immediate Verification: Post transfer, promptly call the title company or real estate agent to confirm the receipt of funds.
6๏ธโฃ Avoid Emailing Financial Info: Refrain from sharing financial information via email.
7๏ธโฃ Day-of-Transfer Confirmation: On the transfer day, verbally reconfirm wire instructions with the recipient using trusted, pre-established contact details.
8๏ธโฃ Understand Your Closing Process: Familiarize yourself with the closing process beforehand.
9๏ธโฃ Beware of Last-Minute Changes: Remain cautious of unexpected changes, especially those urging immediate action.
๐ก๏ธ Cyber Liability Insurance: Consider obtaining cyber liability insurance to safeguard against potential losses from wire fraud schemes.
๐ต๏ธโโ๏ธ In case you fall prey to a scam, remember, time is of the essence! Contact your bank to initiate a wire recall and report the incident to ic3.gov. Get in touch with your regional FBI office and local police.
For a deeper insight into home transaction processes, visit homeclosing101.org.
Stay informed, stay safe, and protect your dream home investment! ๐ช
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๐ข Disclaimer: The information provided in this video is for educational and informational purposes only and should not be considered financial, legal, or investment advice. Brighton Bank does not guarantee the accuracy or completeness of the information presented and is not responsible for any losses resulting from reliance on this content. Always verify wiring instructions directly with a trusted financial professional before transferring funds. Brighton Bank does not request or process wire transfers via email. If you suspect fraud, contact your bank immediately and report it to the appropriate authorities.
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