Unfortunately, wire fraud is on the rise and it is important to be informed on the subject.
Due to the rise in fraud cases, any transactions done with our company, requires a Cashier’s Check made payable to McLeod County Abstract & Title Services, LLC for funds needed for closing or a wire transfer to our account.
Wire instructions should be sent by secure email, faxed or mailed to us. If wire instructions have been received and you are advised of “revised” wire instructions – report this to us immediately with a phone call to verify the information prior to sending funds.
Perpetrators scam businesses and/or individuals by monitoring real estate transactions and requesting a change in payment type or account, before closing.
Here are some tips to be aware of to protect yourself against wire fraud:
- Avoid free web-based email accounts
- Be careful of what you post on social media
- Be aware of requests for a sudden change
- Be cautious of requests to take action quickly
- Do not open emails from an unknown source and delete them immediately
- Hesitate from clicking on links and opening attachments provided in an email, especially if you are unsure who has sent the email
- Do not give out your personal information through email, especially social security numbers
- Verify information by calling a known phone number and not the number provided in an unfamiliar email
If you become a victim to wire fraud, make sure to act quickly by contacting the financial institution and your local FBI office or law enforcement authority immediately.
