WIRE FRAUD 101
In 2021, 11,578 people nationwide reported losing $350.33 million to real estate scams, which was a 64% increase from the previous year. Often, scammers will use a broker's real name to create a fake email, which gives the fraud more legitimacy. Criminals will often only subtly change one letter, symbol, or number of an email address. These scammers will count on being able to manipulate you into believing that these spoofed communications are real, which can lead you to download malicious software, send money, or disclose personal, financial, or other sensitive information.
So, what can I do?
McManamy Jackson Hollis is committed to the safety and security of our clients and their funds. Therefore, we have implemented a strict and unwavering process when it comes to wiring funds in and out of our office. We very strongly advise you to not send any money to our office unless you have verbally confirmed our bank information over the phone with an employee, and we will not send funds to sellers without verbally confirming their information over the phone.
Do's and Don'ts
DO make sure to verbally confirm wire instructions with our
office before wiring any funds.
DO call your paralegal to verify the amount you need to wire for your closing.
DO alert our office immediately if you receive wire instructions via email or that you believe may be fraudulent.
DO call your local FBI branch immediately if you feel you have fallen victim to wire fraud.
DON'T send your personal bank information to people you do not know or have not spoken to before.
DON'T send any funds to our office without calling to verify our wire instructions.
DON'T accept wire instructions via an unsecured email. We will NEVER send our instructions through email.
DON'T believe everything you read. If you receive an email that appears suspicious, contact our office immediately.