Wire Fraud

King + Associates Real Estate

01/23/23

In 2021, losses from cybercrime in the real estate/rental category reached $350,328,166, according to the latest FPI Internet Crime Complaint Center's report.

As fraud becomes more prevalent, here are some things you can do to help yourself and your clients.

  • Use a secure platform;
  • Confirm wire instructions with your clients signing the WIRE FRAUD PREVENTION NOTICE;
  • Verify the wiring process with your vendors;
  • Make sure you always ask for and receive your Federal Wire Reference Number;
  • If you or your client are victims of wire fraud, notify the bank immediately;
  • Again, TALK TO YOUR CLIENT ABOUT IT!

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