Cyber Safety

CYBER SAFETY TIPS

Wire Fraud and Cyber Crime is a serious concern and constant threat in any real estate transaction.  Please note safety measures that Buyers, Sellers and Agents can take to reduce potential loss:

• Agents – insist that Escrow Holder contact your buyer’s directly to safely convey wire instructions.  Do not forward wire instructions to your clients.  Provide escrow contact information to your buyers directly – Have a phone or in-person conversation with your clients to convey safely Escrow Contact Information.
• Verify any changes proposed in an email with person sending it USING A PHONE NUMBER ON FILE, NOT CONTAINED WITHIN THE EMAIL.
• Carefully, scrutinize all email addresses in related correspondence. Cyber criminals are notorious for setting up counterfeit email accounts that look like parties involved, with very slight changes.  These counterfeit emails can go undetected by agents, lenders, escrow buyer and seller until it is too late!
• When involved in an email conversation – rather than automatically replying, either double check the email address or create a separate email with the addresses you have on file.
• Be cautious with Social Media and what information you put out on the internet regarding your transaction.
• No matter how busy you are, ALWAYS CALL TO CONFIRM WIRE INSTRUCTIONS WITH A NUMBER YOU HAVE ON FILE!
• If you receive wire instructions directing funds to a bank in a State other than California, BE HIGHLY SUSPICIOUS! This is almost guaranteed to be an attempt to steal funds.