Cyber crooks prowl Dallas’ hot home market with buyer scamsCyber crooks prowl Dallas’ hot home market with buyer scamshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=140692016-08-09T05:00:00Z2016-08-09T21:55:00Z
​​DALLAS - Along with retailers and financial firms, you can add real estate agents to the growing list of businesses battling cybercrime.

Real estate sales firms and title companies are scrambling to put up defenses against internet scammers and overseas crooks who are trying to steal funds from homebuyers.

"One person we heard about doing this was slick—he knew the terms about closing and said all the right words," said Mary Frances Burleson, CEO of Dallas' Ebby Halliday Realtors.

Usually what happens is that a homebuyer gets an email from what appears to be the real estate agent or a title company requesting a transfer of funds for escrow or the down payment. 

Agents and title firms suspect that cybercrooks are hacking into their email systems to get information and send messages to buyers that look like the real thing.

The National Association of Realtors is working with the Federal Trade Commission to give consumers tips on how to avoid getting scammed.

Homebuyers who are transferring large sums of money are particularly vulnerable and could lose more than just a down payment or escrow payment.
Dallas Morning News
Dallas-Fort Worth-Arlington
http://www.dallasnews.com/business/residential-real-estate/20160803-cyber-crooks-prowl-dallas-hot-home-market-with-buyer-scams.eceRead more at the {Source}

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