ACTIVATE TWO FACTOR AUTHENTICATOR
Setup Two-factor Authenticator It might be a pain now but it would sure save a major heartache should your email, phone or texts ever get compromised.
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IMPORTANT NOTICE: Never trust wiring instructions sent via email. Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct.
REAL LIFE EXAMPLE
Dear Client Name
Please confirm if you would prefer to close in the morning or afternoon on the closing day as the escrow coordinator is suggesting we close in the afternoon. Please let me know what works best for you so I can follow up with her after my realty seminar today, it looks like a hectic day already. She's cc'd on this email.
All the Best,
(They will put the agent's signature box in here as if it came from the agent)
KEY INDICATORS- IT'S A SCAM
It is crucial to discuss the potential for fraud and loss with your clients and service providers throughout the transaction. Please ensure that you have the Wire Fraud Notice signed to initiate the conversation and protect yourself from potential exposure. Furthermore, maintain this discussion at multiple points in the transaction.
If your client become a victim of wire fraud and it relies on a transaction to close, follow these steps below. Time is of the essence.
STEP 1: This is the most critical step. If they sent the wire transfer through their bank, they must first contact their bank and report the fraudulent transfer. The client should ask if they can reverse the wire transfer and give them their money back.
STEP 2: Notify Broker of Record. We will gather information from you/client to prepare claim.
If you receive texts that seem odd or out of the ordinary, from any member of the leadership team, for example, Matt Madden and it's not from their posted phone number, it's most likely a scam. Attached is an example. You can always verify our phone numbers by going to kwagentportal.com and scrolling down to leadership at the bottom of the homepage. Their phone numbers are listed there as well as in the full agent roster.
We would NEVER ask favors of you, or text you in that manner. Please also inform any of your friends and family too so they are aware of this kind of phishing scam.
REAL LIFE EXAMPLE
Hello, are you available. Let me know if you got this text
We are usually aware of these issues when they occur as we tend to get the same messages and unfortunately, there is not much we can do to stop them.
Reporting to us directly is not necessary. This happens all over the country to all brokerages. You can report the scam to the FTC online, or by phone at 1-877-382-4357. FTC accepts complaints about most scams, including these popular ones: Phone Calls and emails. You can also visit the FTC website here for How To's https://consumer.ftc.gov/articles/how-recognize-and-report-spam-text-messages
Just like we talk about with wire fraud, before sending anyone money - you should verify it is them via phone to a number you have on record for that person. Do not respond to these text messages.
Watch out for e-mail scams as well. They can sometimes appear to come from a legitimate company such as Paypal. First do not click on any links. You should verify the information is correct. If it looks out of the ordinary, chances are it is. The moment you click on the link, you have then given complete control to the scammer. If you do click on the link, here is what you will want to do next
Imagine you saw this in your inbox. Do you see any signs that it’s a scam? Let’s take a look.
While, at a glance, this email might look real, it’s not. The scammers who send emails like this one do not have anything to do with the companies they pretend to be. Phishing emails can have real consequences for people who give scammers their information. And they can harm the reputation of the companies they’re spoofing.
Hebert, Amy, et al. “How to Recognize and Avoid Phishing Scams.” Consumer Advice, 22 Mar. 2022, https://consumer.ftc.gov/articles/how-recognize-and-avoid-phishing-scams.