Wire transfers are a common way to send and receive money electronically. However, they can also be a target for fraud and scams. It is important to be cautious when sending a wire transfer, especially if you are not familiar with the recipient. Always verify the recipient's information before sending the transfer and be wary of any requests to send money to unfamiliar accounts or individuals. Additionally, keep in mind that wire transfers are typically irreversible, so it is crucial to double-check all details before sending any funds.
InFocus Title has a 2-step wiring process. You will receive written wiring instructions through your escrow officer, and then a member of our team will verbally verify instructions with you before you send your wire.
If you suspect you are a victim of fraud or that your property title is stolen, immediately contact the 3 credit bureaus, file a report with the police, close unauthorized accounts, contact your mortgage lender, and retain related records. Notify your agent, your lender, and your title company ASAP.
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