Several Illinois real estate business are reporting scam artists are trying to divert funds that were to be used in real estate transactions.
The “phishing” attacks are wide-ranging, and seek email and password information from title companies, real estate brokerages and title agents. One method of attempting to gain access is to send emails to a business that purports to be from a legitimate source. The information is used by the scammers to divert wire transfers.
The best defense: Never give out information that can gain a hacker access to your account. And if there is any question about the source of an email, make sure you check it out with a phone call before responding.
For a guide to how to protect your business, there’s a good write-up on the U.S. Securities and Exchange Commission’s website.