At Continental Title Company, your safety and the security of your transactions are our top priorities. Today, we’re addressing the ongoing issue of wire fraud in the real estate industry. We want to ensure that homebuyers and sellers are fully aware of the dangers posed by wire fraud schemes, which aim to steal money intended for home purchases or the proceeds from property sales. So, let’s talk about how we can avoid the “fireworks” that wire fraud can bring to the closing table.
Let’s face it – wire fraud is no joke. It’s a serious threat that affects not only homebuyers and sellers but also real estate agents and lenders. And these cybercriminals? They’ve really upped their game, using all sorts of sneaky methods to deceive unsuspecting folks. They often strike at the eleventh hour with incredibly convincing techniques.
Our efforts to combat this problem led us to partner with CertifIDd, a leading technology solution that securely exchanges wiring information and guarantees transactions up to $1,000,000. With CertifID, every wire transfer is protected against fraud, giving you the peace of mind you deserve throughout the closing process.
To help protect you further, here are four essential tips to keep in mind:
- Call, don’t email. When it comes to wiring instructions, always confirm them by phone using the phone number listed on your title company’s website or business card. If you receive an email asking you to change wiring instructions, don’t take the bait, and never call the number provided in the email.
- Stay vigilant. It’s highly unusual for any title company to change wiring instructions or payment information. If something seems off or different, trust your instincts and reach out to your agent or title company to verify the details. It’s better to be safe than sorry.
- Double-check everything. Before sending a wire, ask your bank to confirm the account number and the name on the account. Taking this extra step can help prevent any unauthorized transfers.
- Verify immediately. As soon as you send the wire, it’s crucial to call your agent or title company to validate that the funds were received. Promptly verifying the transaction will help detect any potential issues so they can be addressed swiftly.
By following these precautions and leveraging our partnership with CertifID, our Continental Title team can effectively mitigate the risk of wire fraud and protect your hard-earned funds. Continental Title and CertifID are fully committed to maintaining the integrity of your transactions and providing a secure closing experience for all parties involved.
Together, let’s not let cybercriminals win! To learn more about how Continental Title and CertifID can protect your transactions from wire fraud, visit our website. Stay informed, stay secure and let’s keep the fireworks where they belong – in the sky!