Protecting Yourself Against Wire Fraud
Be cautious. Wire fraud can happen to anyone. Mortgage closing scams target homebuyers who are nearing the closing date. The scammer will pose as your real estate agent or settlement agent and have you wire them the closing payments. To avoid a mortgage scam, write down all name and contact information of your agent and settlement agent (trusted representatives). Before wiring any funds, call your settlement company to verify using the phone number. If you’re unsure, call your trusted representatives.
When you are a victim of wire fraud, contact TEFCU or your wire-transfer financial institution immediately. Ask for a wire recall to try to increase the possibility of recovering your funds. File a complaint with the FBI at www.ic3.gov.