Together, we can keep our customers safe from wire fraud

August 16, 2021

During the process of buying or selling a home, it takes plenty of people surrounding our customers to protect their best interests and their money. Realtors, loan officers and title companies are all on the same team.

That’s why your Lakeside Title team wanted to make sure we talked to you about wire fraud. We’ve shared warnings about this issue before – you’ve probably seen our email footers talking about wiring instructions and how they will be sent from Lakeside Title protected by a password – but we wanted to share some more tips with you. Though attention has shifted to how hot the market is headline-wise right now, these scammers are still a huge problem. Just check out this recent news story from Oregon.  

It’s important to start these conversations early on in the process with buyers and sellers… Realtors, that’s why we need you in particular to keep up the fight.  Many families are on the side of, “That couldn’t possibly happen to me,” without realizing they may be at risk as they speak those very words.

Clueing buyers and sellers in on what to look for concerning wire fraud is as easy as 1, 2, 3.

  1. Beware of inbox overload.  Most scammers count on your customers being swayed by eye-catching subject lines in their email. If it sounds too good to be true or seems bogus, it probably is. Encourage your customers to ask first and click later.
  2. Last minute isn’t in it.  Remind your customers that last minute wiring changes by email near closing time won’t be the norm.  If there are needed changes, let them know that you will contact them personally…but not through an unsolicited email.
  3. Questions?  Reassure your customers that you are ready and willing to answer any questions they may have. Tell them to call you or us directly if they have any suspicions.  Maintaining open lines of communication may mean the difference between frustrations and congratulations.  

Lakeside Title is proud to call you a part of our village that works to protect customers all over Maryland, and we look forward to working with you concerning the safety of our customers. To the buyers and sellers out there: Never be afraid to call if you have questions about a suspicious email or any other title and closing issue.