Protect Yourself From Wire Fraud

5 ways you can protect yourself from wire fraud during closings.

Today, the world is at our fingertips with our collection of devices. And while this allows us to connect with the world through our screens and research anything we need in seconds, we also leave ourselves vulnerable to cybercriminals. Now, cybercriminals are targeting homebuyers through wire fraud as home buyers close on their homes, and while this can happen to anyone, here’s some tips for you to protect yourself against cybercrime.

Always be Suspicious

Cybercriminals love to play tricks, especially when homebuyers are close to closing on their new homes. So always be suspicious of wire fraud. If plans change, like the instructions of how you should wire your money or who you should wire your money to, call your agent to verify this change of plans.

Call for Verification

While email is a common method of communication, when it comes to protecting yourself from wire fraud, calling is the best choice. Call to confirm wiring instructions, especially if you receive an email detailing that something has changed. Cybercriminals will often try to create a sense of urgency within you by sending scamming emails saying that you will lose the home if you don’t pay a certain amount of money by a certain time. If you find one of these emails in your inbox, give your agent a call to verify what’s going on.

Be Observant

As mentioned above, a lot of cybercriminals live in your email inbox. A cyber attack can occur when they create an email address that looks similar to your agent’s, but it might be off by one or two characters. If you receive any emails like the ones mentioned above, take a closer look at the sender’s address. It might just be fake.

Have a Secure Password

Passwords are a delicate art. Too tricky and you won’t remember it, but too easy and anyone can guess it and hack into your accounts. Make sure the passwords you choose are easy for you to remember, but difficult for people to guess. So don’t choose your kids names or your dog’s name, and make sure you change up your passwords for each login you have. 

Choose a Reputable Title Company

You can choose the title company you work with throughout your home buying process, so choose wisely. Your agent will know which title companies are the best, but of course, you can do your own research to find the title company that’s right for you.

The cyber-world can be a dangerous place, but with these tips, and a reputable title company like Monarch Title, your money will be safe and sound from wire fraud and cybercriminals.