Finance

#WireFraud Facts


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Helping you protect your hard-earned money.
Did you know…

According to data from the FBI, in 2016, $19 million in home closing funds were reported lost to wire fraud. In 2017, nearly $1 billion in funds were diverted from real estate purchase transactions and wired to scammers. From 2015 through 2017, there was an 1,100% rise in the number of such real estate scams and a 2,200% rise in the reported monetary loss.

Never act on wire instructions sent to you via email or text, always verify verbally. If you suspect wire fraud with your transaction or have questions about wire procedures, contact your escrow closer immediately at a known and verified number.

SOURCE: Coldwell Banker Bain

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