Before you wire transfer money for your new home, make sure you are not about to click away your life savings.
According to the Federal Bureau of Investigation, wire fraud for homebuyers is on the rise, with roughly $150 million dollars lost last year.
Emails can be fake, so make sure you’re sending money to the right person. Pick up the phone and talk to your banker, your real estate agent and your real estate attorney before wiring money.
Then, double check after you’ve wired it.
If you were a victim of wire fraud, report it to the FBI immediately. If you report within 72 hours, you could get your money back.
To learn more about how to identify wire fraud, visit the Coalition to Stop Real Estate Wire Fraud’s website at stopwirefraud.org.