Reprinted from Attorneys Title Fund Services LLC June 29, 2017
The FBI recently issued a PSA on this topic and emphasized the following prevention strategies:
- Stay Informed – If you have an increased awareness and understanding of how the scams present themselves, you are more likely to recognize when you have been targeted. So STAY INFORMED. Read the PSA issued by the FBI and other resources that are made available to you on this topic.
- Internal Prevention – Strong internal prevention techniques, especially with front-line employees, have been very successful in deflecting attempts to infiltrate your closing and divert monies.
- Use Secured Email Service– Avoid free web-based email addresses. Establish a company domain name and use it.
- Register Similar Domains – Register company domain names that are very similar to yours to prevent a criminal from doing so. This is a new one to me and sounds like a really good idea!
- Use a Landline– Consider being old fashioned and use a landline telephone to communicate with realtors, buyers and sellers.
- Use the Forward Button – Instead of responding to an email by using the “Reply” button, use the “Forward” button, which will require you to type in the correct email address for the recipient. This may avoid an accidental reply to a fraudster using a similar (but false) email address.
- Verify Funds Transfers – Confirm, confirm and re-confirm requests for funds transfers. Carefully scrutinize all e-mail requests for funds transfers. Use phone verification but make sure you use previously known numbers and not numbers provided in an email request.