North Shore Law member and residential real estate attorney, Jennifer Baratta, identifies wire transfer fraud as a big problem in the residential real estate arena. Two precautions that she takes with clients are, (1) have the client acquire their wire instructions directly from the title company – many of which use a link to the instructions, rather than faxing or emailing instructions; and (2) have the client or their bank verbally verify the wire instructions with the title company before wiring the funds. Check out the following article that Jennifer also found helpful and informative: https://www.crowdreviews.com/blog/protect-clients-real-estate-wire-transfer-fraud/.
