Wire Fraud Alert and Wire Instructions

This Notice is not intended to provide legal or professional advice.   If you have any questions, please consult with a lawyer.  Realtors, Real Estate Brokers, Closing Attorneys, Buyers and Sellers are targets for wire fraud and many have lost hundreds of thousands of dollars because they simply relied on the wire instructions received via email, without further verification.

A fraudster will hack into a participant's email account to obtain information about upcoming real estate transactions.  After monitoring the account to determine the likely timing of a closing, the fraudster will send an email to the Buyer purporting to be the escrow agent or another party to the transaction.  The Fraudulent email will contain new wiring instructions or routing information, and will request that the Buyer send funds to a fraudulent account. 

WIRING INSTRUCTIONS

IN ORDER TO FACILITATE TIMELY CLOSING OF YOUR TRANSACTION PLEASE PROCESS AS AN OUTGOING FEDERAL RESERVE WIRE TRANSFER ONLY, ANY OTHER TYPES OF CREDITS RECEIVED WILL BE REJECTED. "ACH" OR "EFT" TRANSFERS CANNOT BE ACCEPTED.

If you receive an email or unsolicited call purporting to alter these instructions, please contact your Fidelity National Title closing agent immediately. 

BANK NAME: Wells Fargo Bank

ABA NUMBER FOR WELLS FARGO BANK: 121000248

NAME/PAYEE: Fidelity National Title Company

BANK PHONE NUMBER: 1-800-869-3577

ACCOUNT NUMBER: 8861646886

In addition, the following non-exclusive self-protection strategies are recommended to minimize exposure to possible wire fraud.

NEVER RELY on emails purporting to change wire instructions.  Parties to a transaction rarely change wire instruction in the course of a transaction.

ALWAYS VERIFY wire instructions, specifically the ABA routing number and account number, by calling the party who sent the instructions to you.  DO NOT use the phone number provided in the email containing the instructions, use phone numbers you have called before or can otherwise verify.  Obtain the number of your REALTOR, Real Estate Broker and your escrow officer as soon as an escrow account is opened.   DO NOT send an email to verify as the email address may be incorrect or the email may be intercepted by the fraudster.

DO NOT forward wire instruction to other parties without first verbally verifying the instructions for the sending party.

USE COMPLEX EMAIL PASSWORDS that employ a combination of mixed case, numbers, and symbols.  Make your passwords greater than eight (8) characters.  Also, change your password often and do NOT reuse the same password for other online accounts.

USE MULTI-FACTOR AUTHENTICATION for email accounts.  Your email provider or IT staff may have specific instructions on how to implement this feature.

For more information on wire-fraud scams or to report an incident, please refer to the following links:

Federal Bureau of Investigation: http://www.fbi.gov

Internet Crime Complaint Center: http://www.ic3.gov

 

 

Copyright © 2012 Fidelity National Title Company. All Rights Reserved. Compliance Notice    |     Privacy Policy    |     Contact Webmaster