Fraud alert: Beware of efforts to divert wire transfers

Source/BigStock

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.

 

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About Jon Broadbooks

Jon Broadbooks is Director of Communications for the Illinois Association of REALTORS®. He supervises and carries out the implementation of the communications programs for the Association. He directs and supervises the Communications staff. He is responsible for coordinating and implementing the public relations and media relations efforts for the Association and acts as spokesperson and liaison to the statewide news media. He serves as editor of online and print content for IAR communications including the Illinois REALTOR® magazine and e-newsletters. He conducts IAR spokesperson training seminars and oversees the operation of website development for the Association.