As a licensed real estate agent in Florida, I get lots of updates from NAR which are actually…
Original publication date on the United States Real Estate Forum on Facebook:
2019-02-09T00:07:16+0000
As a licensed real estate agent in Florida, I get a lot of updates from NAR which is actually the national realtors organization.
Today I received a very important update for all of us and our customers regarding the transfer of funds between buyers and Title companies. According to FBI data from 2015 - 2017, there was an increase of 1,100% in customer fraud that transferred money when it came to purchasing assets….
Be alert and check with your Teitel companies that you do have the right data to transfer the money to prevent any distress on either side.
Make sure the details are from the Teitel company and not anyone else….
Link to the original post on the United States Real Estate Forum on Facebook - Works on a desktop computer:
http://bit.ly/2IcJzj9
The original responses to the post can be read at the bottom of the current post page on the site or in the link to a post on Facebook and of course you are invited to join the discussion
Niv Avni
I personally know a sophisticated sting story that included cyber fraud
Be careful
Ari Frank
There are other due diligence tests that can be done besides picking up a phone. Is there a valid business registration or number, since behind the phone you can seat someone who will answer the company's name, but will actually be part of the fraud.
Really really important topic! Last year there were pleasures worth $ 1.5 billion in the US! Only from the transfer of funds to Teitel. It is absolutely forbidden to rely on a mail from the Teitel company, but to call directly and receive the account number. Also do not just call the number on the email but make sure it's who you really work with. In the office I work in (in the Dallas Fort Worth area) there have been four cases of such fraud, three were caught before the transfer and one is not! There is no way to get the money back, no money and no apartment!