Beware Online Wire Transfer Fraud

Online Banking Fraud

Be aware! Online banking fraud is on the rise.

If you receive an email containing WIRE TRANSFER INSTRUCTIONS, call the title company directly to verify the information prior to sending funds.

Scam artists in the United States and around the world defraud millions of people each year by using internet scams to deceive people into giving them personal information or sending money through wire transfers.

Just recently, a Washington D.C. couple was defrauded $1.5 million dollars in an online wire transfer title company scam.

They were waiting to go to closing on their new “dream home” when they got an email that they thought was from their title company.

When they replied to the email to double check and received a reply, they assumed it was legitimate and so they wired the remaining $1.5 million to the bank.

Only later when they went to sign the settlement papers on the house, they learned they had been victims of a scam.

Tips to Avoid Internet Fraud

According to, you should take these measures before entering into transactions over the internet:

  • Know your seller – If you don’t know who you’re buying from online, do some research.
  • Protect your personal information – Don’t provide it in response to an email, a pop-up, or a website you’ve linked to from an email or web page.

Report Internet Fraud

If you believe you’ve been a victim of internet fraud or cyber crime, report it:

* Advertising Material: To the extent that the information in this post is interpreted as attorney advertising in accordance with the Illinois Rules of Professional Conduct or within the meaning of state bar rules from all other localities, this statement is made pursuant to those rules.

Specialties: Specialization claims are prohibited by Illinois Supreme Court Rules and we do not claim to be specialists. The content of this e-mail is organized and presented for the sole purpose of general information. None of the included content should be construed as legal advice. Viewing this e-mail or e-mailing the account holder does not create an attorney-client relationship. NOTICE: This page may be considered advertising material.

The Law Offices of Lora Fausett P.C. provides real estate law services including loan modificationsbuying and selling legal assistanceshort sales and deeds in lieumortgage foreclosure defense, and more.

Located in Glen Ellyn, Illinois and serving clients in DuPageCookKane, Will, and Kendall Counties.

For Information Call 630-858-0090