Cyber Security Against Real Estate Scams

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With the advancement in technology, people are more dependent on cyberspace. The downside is there is a growing number of people falling prey to online frauds, hacking, and phishing. The growth in the use of smartphones, and other smart devices for online banking services makes it even more vulnerable. Cyber scams have become bigger and there is a possibility of being robbed online 24*7. This makes cyber security for data even more significant concern.

Wiring scams during property closing stage

Cyber scams seem to be bothering the real estate sector significantly. Wiring scams are taking place, especially during the closing phase of the property buying and selling process. The National Association of Realtors warns clients of probable wiring scams. The criminals get hold of information related to real estate transactions. This is followed by the hacker sending emails to the buyers or sellers of the property and pretending to be someone associated with the closing property phase. The worst part is people fall prey to such scams and end up losing everything.

Fraud emails

The email that the hacker sends notifies of last-minute changes. For instance, a request is forwarded to pay an amount of down payment to a specific bank account. The bank account belongs to the hacker, and he/she implements the hacking process in such a precise way that suspicion is the last thing. There are multiple ways to hack online, but online real estate scams can be avoided with the right security measures.

Using encrypted emails

Sharing sensitive information, like Social Security Number, Credit card details, and other details via emails is a big no. It can compromise an innocent individual’s identity and even get scammed. If one has to share information with real estate agents over property buying and selling, using encrypted email is recommended. This is one of the most effective ways to guard against hacking sensitive and personal data. Cyber security for data protection in the house buying and selling process shouldn’t be ignored.

Avoid using an unsecured Wi-Fi network

The use of an unsecured Wi-Fi connection should also be avoided. It is yet another way spammers and hackers get access to personal information. Only a secured Wi-Fi network should be in practice as it can help to stay protected and guarded against online hackers and wiring scammers. In case, one is fortunate enough to track an online fraud, lawful actions must be taken. It is important to notify the FBI’s Internet Crime Complaint Center about the fraud.

Conclusion

As long as people will benefit from different functions of the internet, online scams will be a part of it as well. The users have to be extra cautious when they are giving out personal and sensitive information. If there is any doubt regarding an email, it is better to avoid clicking on any links or replying to them. One can shield against online fraud activities by ensuring strong cyber security for data. Moreover, using anti-virus and anti-spyware software on personal devices is also an efficient method of guarding against malware and other online fraud attacks.

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