Real Estate Wire Fraud: The Digital Heist You Need to Understand and Prevent
Posted by Robin Maynard on
How to Beware of Real Estate Closing Scams
Mortgage wire fraud can transform a homebuyer's dream of home ownership into a nightmare, potentially causing crippling financial losses. CNBC reports how a Silicon Valley tech industry veteran was among the latest victims, speaking to the increasingly sophisticated nature of cybercrime.
Just days before the closing, Rana Robillard received what appeared to be a response to one she had sent her broker, inquiring about the final steps before the closing. She wasted no time sending the money after receiving an email from her mortgage broker with directions to wire a nearly $400,000 down payment to a JPMorgan Chase account. Little did she know, this email was sent by cybercriminals who had infiltrated the…
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