WIRE FRAUD AND SCAMS

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ACTIVATE TWO FACTOR AUTHENTICATOR

Setup Two-factor authenticator. It might be a pain now but it would sure save a major heartache should your email, phone or texts ever get compromised. 

• If you have G-Suite/Gmail, here is a way to do so.
• If you need assistance with turning this feature on Gmail and/or other e-mail platforms, please reach out to Reppert Factor for assistance at (215) 945-8869. They would be happy to assist.

Add the following to your signature line

IMPORTANT NOTICE: Never trust wiring instructions sent via email. Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct.

ADDITIONAL PROTECTION RESOURCES

• Password Protection w/ Last Pass
• Password Protection w/ 1Password
• Password Protection w/ NORD Pass
• Identity Theft Insurance- Zander Insurance
• Identity Theft Insurance - LifeLock

REAL-LIFE EXAMPLE

Dear Client Name

Please confirm if you would prefer to close in the morning or afternoon on the closing day as the escrow coordinator is suggesting we close in the afternoon. Please let me know what works best for you so I can follow up with her after my realty seminar today, it looks like a hectic day already. She's cc'd on this email.

All the Best,

(They will put the agent's signature box in here as if it came from the agent)

KEY INDICATORS

• Pay attention to the "From Email Address". That is usually your first indicator. They will use a spoof e-mail address.
• Pay attention to the wording used. Scammers will also use key wording such as. "please kindly" or "in a seminar right now"

 ADDITIONAL RESOURCES

• VIDEO-  Avoiding Wire Fraud in Transactions 
• VIDEO REAL-LIFE VICTIM -  Protecting yourself from wire transfer scams
• VIDEO REAL-LIFE VICTIM-   Homebuyers scammed out of nearly $200,000
• ARTICLE - Cyber Security Best Practices
• ARTICLE - Cybercrime continues to plague the Real Estate Industry

If your client become a victim of wire fraud and it relies on a transaction to close, follow these steps below. Time is of the essence. 

STEP 1: This is the most critical step. If they sent the wire transfer through their bank,  they must first contact their bank and report the fraudulent transfer. The client should ask if they can reverse the wire transfer and give them their money back.

STEP 2: Notify Broker of Record. We will gather information from you/client to prepare claim.

 If you receive texts that seem odd or out of the ordinary, from any member of the leadership team, for example, Scott Gingrich and it's not from their posted phone number, it's most likely a scam. Attached is an example. You can always verify our phone numbers by going to explorekw.com and scrolling down to leadership at the bottom of the homepage. Their phone numbers are listed there as well as in the full agent roster.
We would NEVER ask favors of you, or text you in that manner.   Please also inform any of your friends and family too so they are aware of this kind of phishing scam.

REAL-LIFE EXAMPLE

Hello, are you available. Let me know if you got this text

Scott Gingrich

Helpful Tips

• Don't provide personal or financial data in response to an unsolicited text or at a website the message links to.
• Don't click on links in suspicious texts. They could install malware on your device or take you to a site that does the same.
• Don't reply, even if the message says you can “text STOP” to avoid more messages. That tells the scammer or spammer your number is active and can be sold to other bad actors.
• Don't assume a text is legitimate because it comes from a familiar phone number or area code. Spammers use caller ID spoofing to make it appear the text is from a trusted or local source.

We are usually aware of these issues when they occur as we tend to get the same messages and unfortunately, there is not much we can do to stop them. 

Reporting to us directly is not necessary. This happens all over the country to all brokerages. You can report the scam to the FTC online, or by phone at 1-877-382-4357. FTC accepts complaints about most scams, including these popular ones: Phone Calls and emails. You can also visit the FTC website here for How To's https://consumer.ftc.gov/articles/how-recognize-and-report-spam-text-messages

Just like we talk about with wire fraud, before sending anyone money - you should verify it is them via phone to a number you have on record for that person. Do not respond to these text messages.