Wire fraud in real-estate transactions is a BIG problem. This post discusses how to massively reduce the risk of wire fraud.

I’m addressing everyone in the real estate industry, agents, appraisers, escrow companies and anyone else who is involved in a real estate transaction. Those are the parties that need to improve their online security to prevent home buyers from being tricked into phishing attacks that lead to wire fraud.

I personally have been looking for a house lately and heard from my agent that wire fraud is a big problem. He could speak of multiple cases where the buyer wired multiple hundred thousand dollars or more to wire instructions that didn’t belong to the seller or the escrow company. Usually the money is just gone!!! …

About

Philipp Berner

I'm a Co-Founder of Keepsafe (@keepsafe). We build consumer products to improve your digital privacy and security. I love sailing and skiing.

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