Protect Yourself
Every day, hackers attempt to steal money through fraudulent wire instructions sent via email or phone. Alarmingly, they often succeed, with over 11,000 victims losing more than $396 million to real estate-related wire fraud in 2022.
How to Avoid a Fraudulent Wire Transfer
Hackers may use a similar email address, stolen logos, and other information to mimic your real estate agent or Pioneer Title Agency. Remember, the wire instructions you receive in your initial package will not change. Any changes will never be communicated via email.
Confirm Every Detail
Always confirm wiring instructions by phone using a trusted number before transferring funds. Avoid using phone numbers or links from an email. Ask your bank to verify the account number before sending a wire, and within four to eight hours, call Pioneer Title Agency to ensure they receive your funds.
If You Suspect Fraud
If you suspect you’ve been targeted, immediately contact your bank and request a recall notice for the wire. Report the incident to www.IC3.gov, and notify your regional FBI office and local police. Detecting and acting on fraud within 24 hours offers the best chance of recovering your money.
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