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Century Abstract Group

5 Tips to Protect Against Wire Fraud

  1. Call, don’t email: Confirm all wiring instructions by phone before transferring funds. Use the phone number from the title company’s website or a business card.

  2. Be suspicious: It’s not common for title companies to change wiring instructions and payment info

  3. Confirm it all: Ask your bank to confirm not just the account number but also the name on the account before sending a wire.

  4. Verify immediately: You should call the title company or real estate agent to validate that the funds were received. Detecting that you sent the money to the wrong account within 24 hours gives you the best chance of recovering your money.

  5. Forward, don’t reply: When responding to an email, hit forward instead of reply and then start typing in the person’s email address. Criminals use email address that are very similar to the real one for a company. By typing in email addresses you will make it easier to discover if a fraudster is after you.