Closing on a new home? Beware of wire fraud!

We can all agree that e-mail and the internet are some of the greatest inventions of our time. We use them every day for business, entertainment, and up to the minute news updates. Unfortunately, they are also great tools for criminals to target victims throughout the world. Whether it’s damaging computers with viruses or stealing personal information, there are millions of people that are up to no good. That’s why it’s so important to always be vigilant. Most of the perpetrators are overseas, and their victims rarely recover their financial losses.

Our team of professionals at First National Title are always ready to help our clients have a smooth closing. We operate out of 22 locations throughout the State of Arkansas, so you’ll always be able to get assistance from a First National Title Company representative in or near your community, and we’re an independent company that’s not owned by a financial institution or a real estate agency. You can contact us at any time when you have specific questions, and we also offer a few general recommendations to protect yourself from wire fraud at closing:

Bring a cashier’s check drawn from a local bank to closing-One of the most effective weapons against wire fraud is to pay your down payment and closing costs with a physical check. There are plenty of legitimate online lenders, but if there are ever any problems, you won’t be able to walk into a local bank branch and deal with an agent face-to-face.

Identify trusted agents prior to closing-Confirm all of the details of the closing face-to-face, or by telephone with trusted professionals. This can include your realtor, your lender, and/or your title agent. It’s also a good idea to agree on a code word or phrase to confirm that you’re talking to the real person.

Beware of unusual email requests-”Phishing” scams have been around since the earliest days of email. Scammers create official-looking documents from financial institutions, and email millions of people in an attempt to harvest logins and passwords. Banks don’t typically contact customers through email, and if you receive a last-minute email from your realtor or lender with new payment instructions, don’t proceed without receiving verification via a face-to-face confirmation, or via a telephone number that you know is legitimate.

If you have any questions, contact us online, or at any of our 22 convenient Arkansas locations listed below!