601 E. Glenoaks Blvd. Suite 202 Glendale, CA 91207 818-322-1252 Department of Business Oversight No. 963-6078 Hacker Alert on Pending Real Estate Deals The CLTA has been alerted to increasing hacker fraud targeting real estate profes- sionals. Hackers are getting into real estate agent and broker emails to discover details about pending transactions. The hackers then disguise their emails to buyers as being from the actual real estate agent, lender or escrow, and direct buyers to wire closing funds to the hacker’s account. Naturally, the money is immediately with- drawn. Buyers need to be wary of email wire instructions, wire instructions sent after normal business hours and email instruc- tions to wire funds to an account that is not in the escrow agent’s name, but rather the name of a third party. Email security mea- sures are absolutely essential. Details of transactions regularly show up in emails and emails make communicating fast and easy. With fast and easy however, comes increased risk. Real Estate Professionals may want to check to see what email pro- tections exists with their company email system. Those without a corporate system may want to investigate using a Two-Factor Authentication to protect emails. No one wants to find out that hacking caused a client’s funds to be wired to a crook. Those without a corporate system may want to investigate using a Two-Factor Authentication to protect emails.
HackerAlertOnPendingRealEstateDeals
Aug 07, 2015
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601 E. Glenoaks Blvd. Suite 202Glendale, CA 91207
818-322-1252
Department of Business Oversight No. 963-6078
Hacker Alert on Pending Real Estate Deals
The CLTA has been alerted to increasing
hacker fraud targeting real estate profes-
sionals. Hackers are getting into real estate
agent and broker emails to discover details
about pending transactions. The hackers
then disguise their emails to buyers as
being from the actual real estate agent,
lender or escrow, and direct buyers to wire
closing funds to the hacker’s account.
Naturally, the money is immediately with-
drawn.
Buyers need to be wary of email wire
instructions, wire instructions sent after
normal business hours and email instruc-
tions to wire funds to an account that is not
in the escrow agent’s name, but rather the
name of a third party. Email security mea-
sures are absolutely essential. Details of
transactions regularly show up in emails
and emails make communicating fast and
easy. With fast and easy however, comes
increased risk. Real Estate Professionals
may want to check to see what email pro-
tections exists with their company email
system.
Those without a corporate system may
want to investigate using a Two-Factor
Authentication to protect emails. No one
wants to find out that hacking caused a
client’s funds to be wired to a crook. Those without a corporate system may want to investigate using a Two-Factor Authentication to
protect emails.