Tips to Avoid Becoming a Victim of Wire Fraud Scams

Follow these tips to reduce risk of becoming a victim of wire fraud scams:

i. Wire fraud can occur at many points of a transaction. Be vigilant and cautious about giving out confidential banking information.

ii. Always call the wire recipient using an independently-verified phone number.

iii. Avoid sending wire instructions (and any sensitive financial information) via email.

iv. Use a secure transaction management platform to share documents and information.

v. Use good email security practices – never open unsolicited links or attachments, keep operating system and anti-virus updated, use strong passwords and two-factor authentication, purge regularly, and avoid using unsecured wifi.

vi. Create an e-mail rule to flag email communications where the “reply” email address is different from the “from” email address shown.

vii. Immediately report suspected fraud to the bank from which the funds were transferred.

viii. Get to know your local FBI field office and contact them immediately if fraud is suspected.

ix. Report fraud incidents to www.ic3.gov. 

For more information, watch this YouTube video from the National Association of Realtors:
https://youtu.be/amPQEO1n1rM