UNDERSTANDING WIRE TRANSFERS AND HOW TO AVOID FRAUD
T To help raise awareness about wire fraud, ALTA.org created a 2-minute video that provides four tips on how consumers can protect their money and offers advice on what to do if they have been targeted by a scam.
How Wire Fraud Starts
Criminals begin the wire fraud process way before the attempted theft occurs. Most often, they begin with a common social engineering technique called phishing. This can take the form of email messages, website forms or phone calls to fraudulently obtain private information. Through seemingly innocuous communication, criminals trick users into inputting their information or clicking a link that allows hackers to steal login and password information.
Examples of Fraudulent Emails
Check out a few examples of the types of email you may receive from criminals attempting to steal funds for a real estate transaction.
Buying and selling a home is an exciting time, but there can be pitfalls for unsuspecting consumers . The American Land Title Association wants homeowners and sellers to be aware that criminals are using wire fraud schemes to steal money meant for home purchases or the proceeds from the sale of the property. Watch this video for four tips to protect your money and advice for what to do if you've been targeted by a scam. - Video provided by American Land & Title Association