Following These Tips Will Ensure You Do Not End Up Working with a Fraudulent Escrow Company
We are delighted to be a reputable escrow company with a solid track record. This is something we take extremely seriously, and we work hard to safeguard each and every one of our clients against fraud. The bad news is that fraud, especially escrow fraud, is on the rise.
Whether you choose to work with Neighborhood Escrow or another escrow business, we genuinely hope that you will not be a victim of fraud. Continue reading for four recommendations on how to prevent this issue.
Be on the lookout for phony websites and emails
Scammers are skilled at constructing bogus websites and emails, but there are always ways to determine whether or not they are genuine. We will never contact you via our website to ask for escrow transactions, financial papers, or files, for example.
When you receive an email from your escrow business, double-check that it contains all of the information you need. This should include a logo, the company’s name, the sender’s official signature, and so on. If you are unsure whether you are receiving a real email or reading a valid website, look up the company’s phone number and call them to confirm.
Uncomfortable customer service should be avoided
The truth is that some escrow businesses will be busier than others at different periods of the month. In that event, you may notice that your call is not answered or returned right away. You should, however, expect to be directed to a professional voicemail box where you can leave a message. A scammer’s phone number, on the other hand, frequently rings and rings with no voicemail.
Do not make a payment that does not appear to be correct
When it’s time to pay your escrow business, they’ll contact you through your Escrow Officer to make a request. The request can be faxed or emailed in a secure format. It will most likely include wire information as well as the Trust Account Number of the Escrow Company.
Scammers don’t like it when you pay money to a bank since it leaves a paper trail. They’ll probably ask you to wire money to a “trusted middleman” instead. The truth is that escrow’s sole purpose is to serve as a trusted intermediary. Payments to a third party should be avoided.
Do not be afraid to double-check your work
If you get a feeling that something isn’t quite right, you should assume it is. You’re dealing with a significant sum of money, and your escrow business is there to assist you in completing the transaction as quickly as possible. If you have any questions, please contact them as soon as possible.
