This months tip comes from Mariah Yee, Escrow Operations Manager.
In recent times, buyers’ closing funds continue to be the main target of fraudsters. There has been an increase in cases where fraudsters impersonate company employees, mortgage brokers, and real estate agents to deceive individuals into providing sensitive banking information. These criminals may attempt to divert funds by sending fraudulent wire instructions during the closing process.
To protect yourself from such scams, we strongly recommend exercising caution and verifying any banking information in person or from a trusted source. Whenever possible, opt for face-to-face communication when receiving wire instructions for closing funds. This will greatly reduce the risk of falling victim to fraudulent activities.
At our company, we prioritize your security and strive to ensure that all transactions are conducted safely and securely. If you have any doubts or concerns regarding wire instructions received via email or phone calls, please reach out directly using verified contact information.
By spreading this message, you can educate your customers about the potential risks involved with wire fraud and provide them with practical steps they can take to protect themselves. This includes emphasizing the importance of face-to-face communication when it comes to sensitive financial transactions like closing funds.
It’s worth noting that while face-to-face communication is recommended, it may not always be feasible due to various reasons such as distance or time constraints. In such cases, customers should exercise caution by verifying any received instructions through multiple channels (e.g., calling directly using verified contact information) before proceeding with any transactions.
Questions? Our customer service team is here to help. Reach them via email at ticor.resource@ticortitle.com or by phone at 503.219.1000
