Is Filing for a Mechanics Lien a Smart Move for Your Car Title?
Download MP3Overview:
In this episode, we discuss the alarming rise of financial fraud involving misdirected transfers. We highlight real-life examples and provide strategies to prevent these costly mistakes.
In this episode, we discuss the alarming rise of financial fraud involving misdirected transfers. We highlight real-life examples and provide strategies to prevent these costly mistakes.
Key Topics:
- Misdirected Transfers:
- Recent incidents, including a municipal fire department mistakenly sending money for a fire truck to the wrong account.
- How It Happens:
- Hackers infiltrate company systems or emails, gathering details about transactions.
- They can target any company involved in a deal, including inspectors and contractors.
- The Cyber Attack Process:
- Hackers monitor email chains related to purchases, gathering information on amounts, closing dates, and involved parties.
- At the right moment, they send fraudulent payment instructions disguised to look legitimate.
- Consequences of Fraud:
- Discuss the severe implications, such as losing down payments on homes or funds allocated for essential equipment, like fire trucks.
Preventative Measures:
- Test Payments:
- Before making large transfers, send a small test payment (e.g., $50 or $100) to confirm the recipient’s details.
- Verification Steps:
- After sending a test payment, verify with the recipient that they received it before transferring larger sums.
Resources:
- Visit verifyescrow.com for a free checklist on handling large transactions.
- If you have questions, reach out to our consultation division at actualhuman.com.
Conclusion:
Stay informed and vigilant to protect yourself and your finances. If you found this episode helpful, check out more videos on our channel for additional insights.
Stay informed and vigilant to protect yourself and your finances. If you found this episode helpful, check out more videos on our channel for additional insights.
