New Report by MLS Subscriber of Wire Fraud Attempt this Week (3/31/2017)

Realcomp has been contacted today (3/31/17) by another MLS Subscriber regarding a wire fraud attempt that involved her client (whose closing is scheduled to occur in two (2) weeks).

The client received a very convincing email that appeared to be legitimate from the title company being used for the transaction. The email instructed her to wire funds early, to a specific account, for her upcoming closing.

In this case, the subscriber’s client replied to the email sender saying she did not want to send the funds ahead of time. She received several more e-mails and even voicemails instructing her to wire funds by the end of THAT DAY.

NAR has created recommendations for REALTORS^® for Protecting Your Business and Your Clients from Cyber Fraud. Please take time to review and familiarize yourself with this important information and share the appropriate sections with your clients.

Also, on the Realtor.org site is the following warning: Never trust wiring instructions sent via email. Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct.

Additionally, NOCBOR recently added a new “Wiring Notice Fraud Form” to their collection of forms in Realcomp’s transaction management system. This form can be inserted into your packaged forms/templates and used to inform/remind your customers of the rules/best practices that should be followed when transacting business via email … a perfect opportunity to educate and help your clients to avoid falling prey to this type of fraud.

Last Modified: Friday, March 31, 2017

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New Report by MLS Subscriber of Wire Fraud Attempt this Week (3/31/2017)