Friday, October 31, 2014

New Wired Funds Scam Alert

This warning came in an email from the Division of Real Estate today:

The Colorado Division of Real Estate has received notice about a scam involving a buyer's funds to close a transaction and the buyer's broker receiving an email changing where the funds should be wired.  The email looks legitimate and will often have transaction specific information in the body of the email or as an attachment.  This includes the buyer's name(s), subject property address, and file numbers.  The "new" wiring instructions have the bank wire the buyer's money to a fraudulent account located outside of the country, never to be seen again. The scam reflects the increasing technical sophistication of computer hackers and all buyers and brokers are potential victims. The Division of Insurance has been made aware of this scam and the Division recommends verbal verification for any unexpected or expected change to the real estate transaction.  



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