In December of 2017, a family was ready to begin their new lives as empty nesters. Everything seemed to be going perfectly until the husband received an unsettling alert three weeks after moving into his new home. He discovered that his attorney’s email had been hacked and the payoff with wiring instructions had been intercepted and altered when sent to the title company, resulting in the family losing thousands of dollars.  

One of the most important things to consider is the misconception that an attorney should be more protected compared to anyone else. During wiring transactions everyone is a target and these fraudsters don’t care who it is. They will infiltrate whenever there is an unprotected third party which in this case was their attorney. 

Transactions like this are handled differently all around the country so it’s difficult to find one efficient way to prevent wire fraud when using a third party. At the end of the day, the impact wire fraud leaves on individuals is detrimental. The financial, emotional, and mental impact is severe and incredibly violating to the consumer. 

Assuming an attorney or agent is practicing safe and protective procedures is not a solution. Understanding how wire fraud is happening is the first step to staying safe from fraudsters! 

Join Chris and Nicole as they uncover the facts and share their expert insights. Real estate wire fraud is the problem, SafeWire is the solution. 🔒

Learn how wire fraud happens and how to protect yourself.