The Financial Crimes Enforcement Network (FinCEN) has warned of a growing number of e-mail fraud schemes, in which criminals deceive consumers and financial institutions into conducting wire transfers.
NEVER send a wire based on an email you receive. STOP and VERIFY the information.
If you receive email instructions to wire money…
STOP – Do not respond to the email
VERIFY – Contact your Settlement Agent (usually an attorney, title company or escrow company) to confirm the instructions. Do not use the phone number or email address in the email you received, it could be a criminal impersonating the Settlement Agent. If you don’t know the Settlement Agent’s contact information, use the internet or phone book to look up the phone number.
REPORT – If you receive a suspicious email, report it immediately to your Loan Officer or Real Estate Agent.