Tag Archives: escrow officer

Don’t Be Spoofed!

You have read the warnings: “Don’t wire funds in response to an email without using call-back procedures!” Always call the party who appears to have sent the email for confirmation using a “safe” or know phone number. What happens if you receive a phone call from your intended funds recipient, asking that you wire funds? You check the number on your caller ID and see that it matches the know number you have.

Are you good to wire funds? NO!

Fraudsters and thieves are utilizing prepaid “burner” phones and applications that will “spoof” the caller ID of any phone number the caller chooses-even valid phone numbers of known businesses.

This fraud scheme is rampant – our industry is not the only target. These spoofing apps advertise themselves as a tool to “prank your friends” but  are used by criminals posing as entities such as taxing authorities or bank personnel in order to defraud companies and consumers into sending money or providing confidential information.

How does this affect the title insurance companies? Fraudsters have learned that responsible escrow officers have begun using call back procedures to validate and verify emails regarding wiring of funds. They are using spoof caller ID in order to circumvent security procedures.

DON’T GET SPOOFED! An incoming phone call never takes the place of an outgoing confirmatory call before wiring funds.

 

Reprinted with permission of the American Land Title Association.
First American Title Insurance Company makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions. First American, the eagle logo, First American Title, and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates.
AMD: 05/2017

CHERRY CREEK TITLE SERVICES IS AN INDEPENDENT POLICY-ISSUING AGENT OF FIRST AMERICAN TITLE INSURANCE COMPANY

Tips to Protect Your Information During Your Real Estate Transaction

 

Real Estate Transactions are a Prime Target for Fraudsters!

When you buy a home you will be required to submit personal information to your lender and/or escrow agent. At Cherry Creek Title Services, we go above and beyond the industry standards to secure your personal information during and after your transaction. Here are some important tips to remember:

Always carefully examine the email address from which you receive updates on your transaction from your escrow officer to ensure it is correct. If an email seems suspicious, contact your escrow officer immediately.

Call your escrow officer  immediately if you receive an email requesting to change the wiring instructions for your transactions. DO NOT use the contact information provided in the email.
Carefully review your personal information on your transaction paperwork to ensure it is correct.Communicate or confirm any changes to the transaction with your escrow officer over the phone or in person.

Do not provide information about yourself or your transaction to any unknown or unnecessary parties.

Contact your escrow officer  if you suspect your email address is being improperly used or if you do not receive funds in a timely fashion.

Reprinted with permission of the American Land Title Association.
First American Title Insurance Company makes no express or implied warranty respecting the information presented and assumes no responsibility for errors or omissions. First American, the eagle logo, First American Title, and firstam.com are registered trademarks or trademarks of First American Financial Corporation and/or its affiliates.
AMD: 05/2017

CHERRY CREEK TITLE SERVICES IS AN INDEPENDENT POLICY-ISSUING AGENT OF FIRST AMERICAN TITLE INSURANCE COMPANY