NNRMLS was recently notified by NAR that the Federal Trade Commission has issued an alert on their blog about real estate-related phishing scams. Hackers have been breaking into some consumers’ and real estate professionals’ email accounts to get information about upcoming real estate transactions. The scammer learns the closing date on a transaction and then sends an email (disguised as the agent) to the buyer, asking for a last-minute change instructing the buyer to wire closing costs to a different bank account (which belongs to the scammer). Read the full FTC post here, which has ideas to help you avoid phishing scams.
Typically at this time of year our Members are dealing with a higher transaction volume during year-end closings. Sophisticated e-mail scams are targeting the real estate industry and NAR Legal Affairs has developed a checklist to help real estate professionals avoid falling into any kind of fraudulent trap. Continue reading
We have received a new report of fraudulent activity on craigslist involving house rentals. Continue reading