IS VERIFYING WIRING INSTRUCTIONS STILL IMPORTANT?
Wire fraud never seems to be out of season. Fraudsters bank on consumers being “rushed” to get things accomplished whether we are in a healthy economy or a downward trend.
Buyers and Sellers Beware: It is important to be diligent and informed anytime you are sending wired funds or providing wiring instructions. Heritage Title utilizes a program called Closinglock which is the leading platform for protecting our clients from wire fraud.
BUYERS: Don’t let cyber criminals steal your dreams of home ownership. Here are some tips to make sure your funds get to the intended recipient.
CALL YOUR ESCROW TEAM (a) if you have any questions regarding the use of Closinglock or (b) to verify the wiring instructions you received. Do not rely on the phone number provided within the email. Do your own research to verify the phone number.
CALL YOUR ESCROW TEAM after you send your funds make sure they were received.
SELLERS: Don’t let cyber criminals steal your once in a lifetime vacation or retirement plans. Provide your wiring instructions in person at closing or through Closinglock. If you choose to provide instructions by email, you should expect a phone call from the recipient to verify that they are true and correct.
Your escrow teams at Heritage Title Company take the protection of your funds seriously. Please reach out to a team member with questions whether you are sending funds or receiving funds by wire transfer.