Real estate transactions look like gold to cybercriminals. Are you doing your part to keep your clients—and yourself safe—from scammers and hackers?
The devastating news hit Memphis, Tenn., real estate professional Pam Beall hard and fast: Her client’s home sale had fallen apart because of a single, devastating email. A few days before the scheduled closing in late December, the buyer had responded to a genuine-looking request to send the full amount of the purchase price—$203,000—to a scammer posing as a rep for the title company. Now, the money was gone, wired to a bank account controlled by an invisible thief.