Fraud alert: Beware of efforts to divert wire transfers

Source/BigStock

Several Illinois real estate business are reporting scam artists are trying to divert funds that were to be used in real estate transactions.

The “phishing” attacks are wide-ranging, and seek email and password information from title companies, real estate brokerages and title agents. One method of attempting to gain access is to send emails to a business that purports to be from a legitimate source. The information is used by the scammers to divert wire transfers.

The best defense: Never give out information that can gain a hacker access to your account. And if there is any question about the source of an email, make sure you check it out with a phone call before responding.

For a guide to how to protect your business, there’s a good write-up on the U.S. Securities and Exchange Commission’s website.

 

2014-06-25T15:08:01+00:00June 25th, 2014|Uncategorized|0 Comments

About the Author:

Jon Broadbooks is vice president for communications at Illinois REALTORS®.