Wire Fraud Education
Wire Fraud Warning! Keep your transaction safe.
When conducting a real estate transaction, it is imperative to stay alert; cybercriminals (hackers) constantly look for their next victim of wire fraud. As a Title | Pipe™ security partner, every transaction you manage in our platform is encrypted and secured at rest and in transit, guaranteeing protection from wire fraud. Outside of utilizing Title | Pipe™, there are other steps your business can take to protect your transaction.
Call Before Sending Money
- Before sending funds, call your attorney or escrow company to verify instructions. Do not use the phone number listed in the potentially fraudulent email.
- Call to verify the identity of the company if you are suspicious of the email you received.
- Contact your bank to confirm the correct information.
Call After Sending The Wire Transfer
- Call your escrow company to ensure they have received the transfer.
- Continue communication with your bank and escrow team until the transfer is complete.
Act Immediately If Something Appears Wrong
- Contact your bank to confirm where the wire transfer was sent.
- If the wire transfer was sent to the wrong location, contact your local Federal Bureau of Investigation (FBI() office – the FBI can assist in trying to return or freeze the transferred funds.
- File a complaint with the FBI using their online submission form at bec.ic3.gov
Through the use of these steps, you can actively protect your transaction. At Title | Pipe™, we understand that these items can be stressful and time-consuming. We designed our platform to passively protect your transaction starting from an accepted offer until your transaction closes (and beyond).
Claim your profile to become a security partner today!