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).
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