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Protecting Against Wire Fraud: Tips for Homebuyers and Sellers

As the real estate market continues to thrive, cybercriminals have also been thriving by stealing millions of dollars from unsuspecting homebuyers through wire fraud. Wire fraud is a type of cybercrime where criminals use fraudulent emails or phone calls to trick buyers into wiring their closing funds to the wrong account.

At Garza Home Team, we understand the importance of protecting our clients’ money, and we’re committed to ensuring a secure transaction process. Here are some tips to help you protect yourself against wire fraud when buying or selling a home.

  1. Verify Everything It’s essential to verify every detail about your transaction, especially the email address and wire transfer instructions. Always double-check the email addresses, and if there’s a change in the wiring instructions, immediately verify it with your agent or the title company.
  2. Use Strong Passwords Create a strong password and avoid using simple phrases or words that are easily guessable. Use a combination of uppercase and lowercase letters, numbers, and symbols, and avoid using the same password across multiple accounts.
  3. Be Cautious of Emails Be cautious of any email that requires an urgent response or requests personal information. It’s essential to scrutinize all emails, especially those containing financial details, before clicking on any links or attachments.
  4. Use Secure Wi-Fi Never use public Wi-Fi to transmit sensitive information such as wire transfer instructions, passwords, or banking information. Use a secure Wi-Fi network and avoid sharing your login credentials with others.
  5. Communicate Directly When communicating with your agent, title company, or anyone else involved in the transaction, make sure to communicate directly with them through verified channels, such as their official phone number or email address.
  6. Educate Yourself Stay informed about the latest scams and tactics used by cybercriminals. By educating yourself, you can better protect yourself against wire fraud and other types of cybercrime.

At Garza Home Team, we take every precaution to protect our clients against wire fraud. By following these tips, you can help safeguard yourself against wire fraud and other types of cybercrime. If you have any concerns or questions about wire fraud, please don’t hesitate to reach out to us.