Criminals/hackers are targeting email accounts of various parties involved in a real estate transaction (e.g., lawyers, title agents, mortgage brokers, real estate agents). Among other concerns, this has led to fraudulent wiring instructions being used to divert funds to the criminal's bank account. These emails may look like legitimate emails from the proper party. Broker strongly recommends that you, your lawyers and others working on a transaction, should refrain from placing any sensitive personal and financial information in an email, directly or through an email attachment. When you need to share Social Security numbers, bank accounts, credit card numbers, wiring instructions or similar sensitive information, we strongly recommend using more secure means, such as providing the information in person, over the phone, or through secure mail or package services, whenever possible. In addition, before you wire any funds to any party (including your lawyer, title agent, mortgage broker, or real estate agent) personally call them to confirm it is legitimate (i.e., confirm the ABA routing number or SWIFT code and credit account number). You should call them at a number that you obtain on your own (e.g., the sales contract, their website, etc.) and not use the phone number in the email in order to be sure that you are contacting a legitimate party.

Precautions related to bank wire transfers include:

• ALWAYS PERSONALLY VERIFY wire instructions.
• DO NOT AGREE to requests to forward wire instructions to other parties (or their brokers).
• BE VERY SUSPICIOUS of emails with purportedly updated, revised, or corrected wiring instructions.  It is extremely rare that a lawyer or title agent will change wire instructions during the course of a transaction.
• PERSONALLY CALL the party who sent the instructions to confirm the ABA routing number or SWIFT code and the credit account number, but do not use the number provided in the sender’s email.  A hacker may have inserted a fraudulent telephone number in the email.  Use only phone numbers that you have called before or can otherwise verify.
• MAKE SURE you are not sending or requesting sensitive financial information in emails (e.g., Social Security numbers, bank accounts, credit card numbers, wiring instructions). Also, use strong passwords (e.g., 8 characters including both letters and numbers, nothing obvious) and periodically change your passwords.
• DON’T open attachments or click on links from unfamiliar sources because they could contain malware or be a phishing scheme which once opened allows a hacker the same access that you have to your computer and accounts.

To further emphasize the scope of this situation here is a link to the most recent guidance from the National Association Realtors-   http://realtormag.realtor.org/for-brokers/network/article/2016/05/threat-wire-fraud-real