Back in the day when you closed on a property you would simply go to your bank and get a certified check. Now with so much fraud, wire transfers are usually necessary.
But, did you know wire transfers have fraud potential as well to them? There certainly can be, and you should be aware of how to protect yourself against that type of activity.
While reputable Title Companies like Alliant Title & Escrow will help you with the transfer they will also require you to personally call to verify wiring instructions prior to sending funds.
A culprit in wire fraud will likely attempt to digitally mislead you or a person representing you in the transaction. These types of people are looking for your personal information and they may try to send “fishing” type emails to get you to click a suspicious link. If you do click that type of bait, there is a chance they captured your info. If you don’t know who it is from, ask someone involved in the transaction you trust.
Another thing to look at is the sender’s email and not the email signature. Hackers can make it look very deceiving and have it look like they are legit. In reality, they are the furthest from that. If the email is a personal one such as a Hotmail, Yahoo, AOL, or Gmail you should take a pause and call to confirm that, that information is correct and accurate. More than likely it isn’t.
The firm you choose for your title transactions is extremely important and can be the difference between having a smooth closing and being a victim of wire fraud.
Alliant Title takes these types of matters extremely seriously and will be transparent and honest throughout the entire process.
For additional questions on potential wire fraud and how to avoid it contact us today at 561-912-0922. In addition, we will have a video coming out shortly on this very important topic.