Phising scams are on the rise!
Do you know how to be aware of? Be careful and protect yourself! Real Estate professionals are aware of this commons scams implemented by cybercriminals. Homebuyers and sellers are the ones this criminals Target.
Here we put together some typical business email compromise scam:
1. Identify Target
2. Email spoofing/phishing and social engineering
3. Target takes the bait
4. Funds are transferred into cybercriminal’s account
Once the funds are transferred into the wrong account, it’s usually transferred into other accounts outside of the country in a matter of hours. Even if the FBI is alerted promptly, it’s difficult to retrieve the funds, so the best way to avoid becoming a victim is to know what a successful wire fraud scam looks like.