Jun 16, 2014

18-2014: Compromised Emails and Fraudulent Wire Instructions (Follow Up)

Last week's Tucker's Tip warned of a recent scam that targets Virginia real estate agents. The scam involves fake email accounts (only one or two letters different from a seller's real email address) that are used to send fraudulent wiring instructions to the seller's real estate agent.

In a slight twist to the same fraud, a real estate broker's email account is hacked. The compromised email is then used to send fraudulent writing instructions to the office handling the closing even though legitimate wiring instructions had previously been in place.

When handling wires, constant vigilance is required. When sending wires, confirm the accuracy of the wiring instructions with a phone call - not an email. (Be sure to verify the authenticity of the phone number!) This practice is highly recommended especially if you receive new or conflicting wiring instructions.

When expecting wires, contact the sender if the wire does not arrive when it is projected to arrive. With careful attention from all parties, we can all do our part to prevent this type of fraud!
Contact me at 434-951-0858 or Tucker@TGBLaw.com if you have questions.

William D. Tucker, III
Tucker Griffin Barnes P.C.
Charlottesville, VA

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