What is “Phishing”
Phishing is commonly known as a form of cyber fraud where a criminal poses as a legitimate organization with the intent to steal sensitive information for purposes like identity theft or financial fraud; it is typically carried out via email using a link that redirects you to a fraudulent website requesting you to fill out a form with personal information.
Cyber Fraud & Closings
Closings always involve sensitive information such as wiring instructions, documents bearing social security numbers, driver’s license information, and other personal information. Hackers can duplicate documents like wiring instructions or social security numbers to use for making fraudulent attempts to steal an individual’s personal information or have funds wired to their accounts instead of the rightful receiver.
Being a victim of cyber fraud can cause you to suffer from extreme financial loss, identity theft, and troublesome law enforcement investigations.
To avoid these issues, it is important to have all sensitive information encrypted or password protected, making it more difficult for your personal information to be stolen. It is also important to keep in direct contact with the closing office you are working with to ensure that wiring instructions are accurate and that any documents requesting sensitive information are legitimate.
Protect your information. It is always better to be safe than sorry.