COVID-19 and Wire Fraud

The pandemic has emboldened many cybercriminals.

It goes without saying that COVID-19 has complicated our lives. It has even brought about an increase in wire fraud attempts. Cybercriminals are targeting attorneys, real estate agents and buyers. Here are some precautions everyone involved in real estate transactions can take to protect themselves:

  • Change passwords often - every day if necessary
  • Verify all emails receive pertaining to wiring funds or changes in wiring instructions by calling a trusted phone number
  • Don't respond to any suspicious emails or open any attachement they contain - reach out directly to each party
  • Stay aware of language commonly used by cybercriminals and verify everything over the phone with the proper people

Don't forget to be extra dilligent, slow down and continue to educate employees and customers about the dangers of wire fraud.