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Cyber Risks · Krebs on Security

Phishers Divert Home Loan Earnest Money

Summary: First American Title warned its agents that hackers intercepted emails from title agencies containing wire transfer instructions for home buyers' earnest money, then substituted the title company's bank account details with their own. The altered emails carried the title agency's email information and logos, and buyers who wired funds per the changed instructions had their money stolen with little chance of return.

Why it matters: The attackers monitored email traffic to learn the timing of upcoming transactions, meaning a single compromised mailbox can redirect a five-figure down payment to a fraudster's account before anyone in the deal notices.

Read the original at Krebs on Security ↗

Topics
Fraud & Scams
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