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!