What You Need To Know To Prevent Wire Fraud

September 17, 2018 2:38 pm

When scammers commit wire fraud, they intercept emails and track frequently visited websites in an attempt to compromise the wire transfer. The cybercriminal then sends a false message on behalf of parties involved in the loan transaction, often with instructions to transfer money.

Here are a few helpful tips to prevent wire fraud:

  1. Call your settlement agent directly for their wiring instructions.
  2. Never accept wiring instructions via email or a telephone call. Contact your Fairway Independent Mortgage Corporation representative with questions or concerns.
  3. Be sure to confirm all details associated with the wire transfer, including the account number and the name exactly as it appears on the account.
  4. After the transfer, verify with the title company or settlement agent that the transfer was a success.

To learn more about how to prevent wire fraud, call me today. I would love to discuss how you can safely purchase your dream home.

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