Call to Confirm Before You Wire
Wire theft is on the rise and Realtors®, Real Estate Brokers, Sellers, and Buyers have become some of the biggest targets resulting in hundreds of millions of dollars in losses. Cybercriminals are hacking email accounts to obtain information about upcoming real estate transactions. After monitoring the account to determine the likely timing of a closing, the hacker will send an email to the buyer, posing either as the escrow agent or as the real estate agent. The fraudulent email will contain new wiring instructions or routing information and will request that the buyer send funds accordingly.
To avoid becoming a victim, Dynasty Title is asking its clients to CALL US BEFORE YOU WIRE to confirm our wiring instructions…never solely rely upon email communication. To be safe in all transactions, always follow these two simple steps:
As soon as escrow is opened, obtain the phone number of your Real Estate Broker, Realtor® and Dynasty Title Closing Agent.
Call the phone number you wrote down from step 1 above to speak directly with your Dynasty Title Closing Agent to confirm wiring instructions PRIOR to sending your wire.
If you receive alternative wiring instructions from Dynasty Title, be cautious as we only change our wiring instructions in very rare circumstances (and if we do, we call every client to confirm this with them). Do not call the phone number in any email you receive that contain alternative wiring instructions as they could be that of the hacker. Instead, call the phone number that you noted from step 1.