Fraudulent Activity in Real Estate

Whatcha gonna do when the hackers come for you?

According to the FBI, the Internet Crime Complaint Center saw a 480% increase in the number of complaints submitted last year within the real estate industry. 2017 alone saw online scammers steal almost $1 billion from real estate purchase transactions.

Cybercrime against the real estate market is real – it’s always important to keep a wary eye out for those red flags.

So what is the primary threat? Essentially, a lot of it comes down to real estate agents’ email accounts being hacked and compromised. These scammers are intercepting important documents and wire transfers; these hackers are able to communicate directly with the client and reroute funds without the agent knowing what is taking place.

So what are some of the things that can be done to avoid cybercrime?

You should always be aware of what you’re opening and clicking on in your email. If something looks suspicious, work out the conversation over the phone instead – and of course, never click on those skeptical links.

So, don’t let the bad boys come for you while you complete those real estate transactions.

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