Protect Yourself From Cyber Fraud
Watch the video or read below to learn how to protect yourself from cyber fraud.
How Your Money Gets Stolen
- Hacked email – Hackers get access to the email account of someone involved in the transaction – the buyer, seller, real estate agent, mortgage lender, title agent, or other.
- Email from hacker – The hacker then emails that person to change the wiring or payment instructions without knowledge from the other parties.
- Consumer pays wrong account – If not questioned, the wrong account gets the down payment or other funds and the criminal gets away.
- Closing day – By the time closing day arrives and the mistake is realized, often the funds are long gone.
How to Avoid Wire Fraud?
Simple: Do no use a settlement provider that is willing to use email to send wiring instructions. Emails are not secure.
MID SOUTH TITLE uses industry leading portal technology to send wiring instructions and other
MID SOUTH TITLE will never email you wiring instructions. Period.