Real Estate Wire Fraud: How Hackers Steal Down Payments at Closing
Learn how hackers steal down payments by compromising a single inbox, and how buyers, realtors, and property managers can stop real estate wire fraud.
Key Takeaways
- 1Hackers compromise one inbox in the transaction and wait for the closing date.
- 2They send fake wiring instructions right when the buyer expects them.
- 3Real estate is heavily targeted due to large transfers and multiple parties.
- 4A simple phone verification process can stop most of these wire fraud attacks.
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