FUND ALERT: Phishing for Trust or Escrow Account Information
We have become aware of a scam wherein criminals posing as potential buyers of real property are asking law firms and title agencies for wiring instructions, purportedly for the purpose of initiating an incoming wire of deposit funds. Unfortunately, these impostors are using the account information in order to create counterfeit checks. These counterfeit instruments typically have altered information (e.g. routing number of bank may be changed) and the victimized firms may not suffer a loss. Nevertheless, we are alerting our members and agents of this scam to raise awareness of this ever-increasing type of fraud.
Firms may wish to talk with the depository where they maintain trust and escrow accounts to discuss setting up what is known as "Positive Pay" service which would avoid payment of improper or counterfeit checks drawn on firm accounts.
Select a News and Announcements item or a Fund Alert from the lists above.
Each link will:
- display the News item here, or;
- take you to the appropriate section of thefund.com, or;
- take you to a third-party site for more information;
Note: Please review the Online Service Agreement for details of The Fund's policy regarding third-party sites.