Q & A - Wire Fraud!
All About Wire Fraud!
Was one of your clients a victim of a scam or scheme? Here’s what to do:
First and foremost, have a frank conversation with your clients when you secure their signatures on the C.A.R. Wire Fraud Advisory. Be clear that you will never be providing wire instructions.
Additionally, advise clients to verify any wire transfer instructions with the title and escrow officer directly using the phone number provided to them by the escrow officer (or as reference in escrow instructions). I recommend that agents avoid using personal email accounts unless they are fully secure.
Should your client become a victim of wire fraud, IMMEDIATELY report it to the Federal Bureau of Investigation. If reported within 24 hours, there is a good chance of recovery.