Wire Fraud

If you receive wiring instructions from Our Town Abstract, please always make sure you have verbal confirmation as to their accuracy.  If you intend to wire funds for closing, please contact Our Town Abstract using the numbers on our website for further instructions.

Our Town Abstract, LLC keeps their clients’ information secure by utilizing some of the best IT services and security practices available in the industry.  Emails are sent using IMAP cloud services which offer enterprise grade security and encryption.  Cloud file storage of all data including production data and backups are protected using 256-bit AES encryption.  Data, servers, and backups are co-located in datacenters which meet and exceed some of the highest security standards including SSAE 16 Type II, SOC (1,2 and 3), ISO 27001, HIPPA and PCI compliance.  Network and Systems infrastructure is regularly monitored and is consistently patched to protect against known security vulnerabilities.  All Information Technology is managed by a team of technology experts using industry leading tools and best practices.  We’re always looking for the best technology solutions to meet our clients’ need with security always remaining one of our primary focuses. Employees are also routinely educated on the most recent attempts and trained to identify potential threats.

Scammers are innovative and adapt quickly to industry changes—so staying ahead of scams is proving to be an arduous and ongoing challenge. It is imperative that all parties involved in a real estate transaction stay mindful of these threats and diligent in validating communications. Everyone is a target!

Most commonly, scammers hack and monitor emails between parties involved in the transaction. They wait for the opportunity to provide their wire information in an attempt to have funds redirected to their account. If they prove successful, tracking down and recouping those funds is extremely difficult, and the American Dream becomes a nightmare. Unfortunately, thousands fall victim each year, accounting for millions of dollars lost.

The title company and closing attorney are obvious targets—but agents, lenders, buyers and sellers are equally at risk and must stay steadfast in the fight against these crimes. If you have any concerns or suspicions regarding fraud, immediate action is important, please call our office immediately at (717) 08-4990.

This video from PLTA provides some helpful tips and links to learn more about wire fraud, and how to protect yourself.