Realtors®, Real Estate Brokers, Buyers and Sellers are targets for wire fraud and many have lost hundreds of thousands of dollars because they simply relied on the wire instructions received via email.
A hacker will break into a licensee’s email account to obtain information about upcoming real estate transactions. After monitoring the account to determine the likely timing of a close, the hacker will send an email to the buyer, posing either as the escrow agent or as the licensee. The fraudulent email will contain new wiring instructions or routing information, and will request that the Buyer send funds accordingly.
>> Learn how to be WireSafe
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Best 3-month CD rates — February 2023
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Best bank account bonuses for February 2023
...balances of more than $250,000 at a Federal Deposit Insurance Corp. (FDIC) bank, make sure you’re within FDIC limits and guidelines.
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