Prospective homebuyers are being scammed by hackers who are stealing passwords when people log into free Wi-Fi networks or click on suspicious emails. Scammers are searching homebuyers’ or real estate agents’ inboxes for messages related to real estate transactions. Once they find you’re in the process of buying a home, they’ll send a fake message from your agent or attorney, title representative alerting you to new money wiring instructions to a fraudulent account.
Before making a wire transfer, call your agent to verify. Beware of links sent by email and instead of clicking on a link in an email to go to an organization’s website, look up the real URL and type the web address yourself. Report any suspicious activity to the FTC.