Must-Follow Advice to Prevent Becoming the Victim of Escrow Fraud
At Neighborhood Escrow we take our reputation seriously. We work tirelessly to provide the best possible services for every client on every transaction. Unfortunately, there are companies out there that give us a bad name. Case in point – companies that are working to commit escrow fraud. Keep reading to learn what the signs are and remember to do your due diligence to look into any escrow company you are considering.
Be Wary if You Are Contacted through a Website
One of the most common tactics is for these companies to simulate the website of a legitimate escrow company to make their scam look real. This is why you should know that we will never contact you through our website for an escrow transaction or file.
When you do get email from us, take a close look at it. Is the email clean and professional looking? Or are there broken links and a fake looking logo? Are paragraphs oddly spaced? Do you notice that the legal disclaimer after the signature line does not have the correct information? If you do see any of this, contact us right away at 310-378-2456 to confirm if the email is real.
Ask Questions About Questionable Payment Methods
When you are asked to wire money to your escrow account, the request will come directly from your Escrow Officer. It will give you information on the wire information for our specific Escrow Trust Account. Scam artists will not have this type of straightforward payment method. They are more likely to suggest you contact a third-party to send the money.
They might ask for money through MoneyGram or Western Union. These are not legitimate ways for your escrow company to request funds from you.
It Does Not Hurt to Verify
If you have any reason to suspect that a person or company you are working with is not legitimate, you should immediately contact your escrow officer by phone. When you call Neighborhood Escrow, we can confirm if there is a real request out for something or if you have been scammed. If the request is not legitimate, then we will work with the police to have the scammer caught. You should never be afraid to call us to confirm that something is a real request.
With our many years of experience, we do not have to find unusual ways to make your escrow go smoothly. A good rule of thumb is that if it does not feel right, then it is probably not right.
