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PREVENTING CYBER SCAMS

DOING YOUR PART

As you are aware, cyber security is a daily concern for all of us.

Our day to day operations must be monitored closely and it is important that we educate our clients of risks and proper procedures to follow in their real estate transactions.

We wanted to bring to your attention another situation involving an Allison James Estates and Homes agent, that fortunately, due to the prudent research of a consumer, any loss was averted.  

Recently, one of our California agents was contacted by a consumer that advised him that his license number and signature block was being utilized in a seasonal rental scam. The perpetrator took his signature block, changed the name, phone number and email, but still used our company name and his DRE license number, as well as utilizing our company logo on the lease agreement. The consumer was diligent by checking the licensure on the state website and reached out to our agent to confirm with him. This is a known scam on the web.

PREVENTING CYBER SCAMS

Here of some tips to share with your clients:

The biggest risks we see are fraudulent requests for wire transfers typically come by email

1. Verbal Confirmation

Verbally confirm that the request to initiate the wire is from an authorized person within the escrow company.

2. Verify Changes

Anytime you receive new wire instructions or a change to existing wire instructions verbally verify with your escrow agent.

3. Double Check Email Addresses

A common trick is to slightly modify an email address. For example, john.smith@realty.com might be changed to jon.smith@realty.com

4. FWD Instead of Reply

Rather than reply to an email, forward the email to the address that you have on file.

5. Be Alert

Be on alert for fraud anytime the wire transfer instructions include tight deadlines or pressure you to act quickly.
Again, be diligent, monitor your emails closely and help educate consumers to be aware of the need to confirm verbally with all parties.