Consumer Beware, There’s a New Scam Afoot!

Consumers Beware:New Scam

There’s a new scam out there that attempts to steal money
for real estate closings.

In one version, scammers hack the email accounts of real
estate agents and consumers to discover closing dates of
upcoming home sales. Then they send an email to the
buyer posing as a real estate agent or a title company.
The email instructs the buyer to send the closing funds
to a new account instead of the one agreed upon previous
to the closing. When buyers send the funds, the account
is immediately cleared out.

Seems consumers were warned about the scam last year,
but apparently that awareness wasn’t widespread enough,
and homebuyers are still getting burned. With the spring
home-buying season underway, it’s vital to continue raising
awareness about these schemes as once the scammer’s
victim takes the bait and sends the money, it’s often too
late, as the money vanishes in minutes.

 

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