Are you about to close on a new home? Be sure to protect yourself from fraud!

In the digital age, trillions of dollars change hands each and every day. Banks and financial institutions make billions of secure wire transfers each day, and consumers purchase products and services from suppliers throughout the world. It should come as no surprise that criminals are interested in intercepting that money every chance that they get!

Our team at First National Title (FNT) is here to help you prepare for a smooth closing on your new home, and we’re committed to assisting our customers with professionalism and prudence. We’re an independent company that operates independently of ownership by any financial institutions or real estate agencies, and complete customer satisfaction is our goal. Cybercriminals are sophisticated, but they’re no match for seasoned consumers who know how to take the proper precautions. Here are a few easy tips to ensure that you’re safe from fraud as you prepare for closing.

Always verify identities-Most fraud isn’t committed by hackers with sophisticated equipment at all. It’s usually people who sound professional and trustworthy on the phone or online. Banks and financial institutions will never contact you over the telephone to request passwords or report fraudulent activity. It also may be a good idea to set up a “code word” with your title agents in verifying communication regarding money, as you prepare for closing.

Bring a physical cashier’s check to closing-Be sure to request a settlement statement to determine the exact amount that you’ll need to bring to closing to cover your payment responsibilities, including closing costs. It is always safer to bring a cashier’s check to closing rather than risking the possibility of cyber fraud.

Be suspicious of any last minute changes-Most closings are routine and reasonably uneventful. If you receive any unusual communication from someone claiming to represent your lender, your title representative, your realtor, or anyone else associated with your transaction, be sure to confirm their identity. Last minute changes may occur, but you should be suspicious and verify these changes, and be very suspicious of anyone who urges you to take immediate action without checking out their story first.

If you have any questions, Contact us online, or at any of our 26 convenient Arkansas locations listed below!