Security and Fraud Awareness Best Practices

Real estate transactions involve significant financial transfers, making them attractive targets for fraud.

Below are some best practices to help stop bad actors in their tracks. By educating your clients with these essential security best practices, you can help them to protect their funds and personal information throughout the transaction process.

Pick up the phone when sharing confidential information
Always verify wire transfer instructions and sensitive personal information (such as a social
security number) by phone using a trusted phone number, or in person. Never use contact
information provided in an email or message—instead, look up the phone number independently
from a verified source, such as the company’s website.

Use strong, unique passwords
The best passwords are phrases that incorporate a mix of letters, symbols, and numbers. Use
different passwords for each account and change them regularly. A password manager can
help you generate, track and store your passwords, and are highly recommended by cyber
security experts and law enforcement.

Enable Two-Factor Authentication (2FA)
Turn on 2FA whenever possible. These one-time use codes are sent to your cell phone, adding
a second layer of protection.

Use a secure transaction portal
Many companies now offer a secure portal for document and information exchange.
This is the best way to share sensitive data and documents.

Keep devices and software updated
Regularly update your smartphone, computer, and apps. Updates often include security
patches that fix vulnerabilities hackers exploit.