Escalation Seen in Hacking Attempts on Real Estate Agents and Homebuyers

The Traverse City Business News (TCBN) reported that hacking attempts on real estate agents and homebuyers to commit wire fraud have been escalating in recent months. Citing statistics from the FBI, TCBN said that $3.1 billion in wire transfers from a variety of industries were attempted to be stolen by hackers between 2013 and 2016. In the real estate industry, the problem has become so prevalent that both big and small real estate companies alike are major targets of these wire fraud schemes, and industry experts do not see this problem improving in the coming year.

As real estate professionals, our best line of defense from these hack attacks is to understand how they happen and then teach our customers how to protect themselves. Read TCBN’s article to learn about email hacking schemes designed to commit wire fraud and what other real estate professionals are doing to protect themselves and their customers at http://bit.ly/2kWk8WR.

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