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How do the scams work? Often the computer hackers monitor email exchanges between the parties of a real estate transaction and gain specific information, such as the buyer and seller names, subject property address and file numbers. As the closing date approaches and arrangements are made to wire the money to the closing company, or wire the proceeds from the sale of the house to the sellers, the scammer will send a last-minute email from a hijacked account or similar looking email address updating the wiring instructions to request the money be transferred into a fraudulent bank account. The email looks legitimate and often contains the transaction specific information the hackers obtained in the body of the email or as an attachment.

Buyers

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