Preventing Wire Fraud in Real Estate Transactions: A Comprehensive Guide
Wire fraud is a critical threat in real estate transactions, posing risks to buyers, sellers, and industry professionals across all stages of a property sale. As your trusted title company, we prioritize the security of your transactions and are committed to helping you mitigate these risks. This page outlines essential steps to protect yourself against wire fraud and safeguard the integrity of your financial transactions.
Essential Best Practices to Prevent Wire Fraud
To protect against potential wire fraud in your real estate transaction, please follow these verified practices:
Always Verify Wire Instructions by Phone
Before initiating any wire transfer, contact our office at (407) 629-9025 to confirm wire instructions. Always (only) use that verified phone number obtained in person or from our website, not from an email (never without exception).
Secure Our Phone Number in Advance
Obtain our direct contact information early in the process, and use only this verified number for all wire-related inquiries.
Avoid Using Phone Numbers Found in Emails
Cybercriminals often replicate official emails to trick recipients. Even if an email appears legitimate, it is essential to confirm wire instructions using only our pre-verified phone number, (407) 629-9025.
Disregard Emailed Wire Instructions
Wire instructions received via email should not be trusted. Confirm all instructions directly by phone to prevent redirection to fraudulent accounts.
If you receive a call “from us,” do not answer any questions (such as your name and address) unless you know you are speaking directly with us here at Southern Title & Abstract, Inc. (scammers make it sound like it is us, but in reality, they are fishing (pushing) for information to help make their fraudulent practices work)
Confirm Wire Transfer Completion
Once the wire has been sent, call us immediately to verify receipt of funds. This additional step helps confirm successful delivery to the intended account.
Important Reminder Before Sending Funds
Always verify with us before sending any funds.
Cybercriminals may impersonate our company or your real estate agent, sending emails or calling under false pretenses to alter wire instructions. To confirm the authenticity of all communications, reach out using ONLY our verified number (407) 629-9025 — either directly obtained from us or found on our official website (https://southerntitle-abstract.com).
Never Rely on Email for Contact Information.
Phishing emails can closely resemble legitimate communication, and fraudsters may include falsified contact details. For this reason, we are not liable for funds transferred to incorrect bank accounts. If you have questions about secure transaction practices or want to learn more about fraud prevention, please contact us directly.
Steps to Take If You Become a Victim of Wire Fraud
If you suspect or discover fraudulent wire activity, immediate action is essential. Follow these steps to increase the likelihood of recovering lost funds:
Notify Your Bank
Contact your bank immediately to report the fraud and request a wire transfer recall. It’s crucial to emphasize that the request is due to fraud.Alert the Receiving Bank’s Fraud Department
Notify the fraud department of the receiving bank as soon as possible. Request that they freeze the account in question while the recall is in process.Report the Incident to the FBI
Contact your local FBI office promptly. The FBI’s involvement can help expedite recovery efforts and increase the chance of fund retrieval.File a Complaint with the Internet Crime Complaint Center (IC3)
Report the fraud incident to the FBI’s Internet Crime Complaint Center (IC3) by submitting an official complaint here. Early reporting improves the likelihood of intervention.
For additional guidance or support, please contact us directly.
The best way is to visit us in person at 2200 Lucien Way Ste 150
Maitland, FL 32751, to ensure all is 100% legitimate.
We are committed to working with you to maintain the security of your real estate transactions and prevent wire fraud from impacting your financial well-being.