Is Filing for a Mechanics Lien a Smart Move for Your Car Title?
Manage episode 444610955 series 2911349
Overview:
In this episode, we discuss the alarming rise of financial fraud involving misdirected transfers. We highlight real-life examples and provide strategies to prevent these costly mistakes.
Key Topics:
- Misdirected Transfers:
- Recent incidents, including a municipal fire department mistakenly sending money for a fire truck to the wrong account.
- How It Happens:
- Hackers infiltrate company systems or emails, gathering details about transactions.
- They can target any company involved in a deal, including inspectors and contractors.
- The Cyber Attack Process:
- Hackers monitor email chains related to purchases, gathering information on amounts, closing dates, and involved parties.
- At the right moment, they send fraudulent payment instructions disguised to look legitimate.
- Consequences of Fraud:
- Discuss the severe implications, such as losing down payments on homes or funds allocated for essential equipment, like fire trucks.
Preventative Measures:
- Test Payments:
- Before making large transfers, send a small test payment (e.g., $50 or $100) to confirm the recipient’s details.
- Verification Steps:
- After sending a test payment, verify with the recipient that they received it before transferring larger sums.
Resources:
- Visit verifyescrow.com for a free checklist on handling large transactions.
- If you have questions, reach out to our consultation division at actualhuman.com.
Conclusion:
Stay informed and vigilant to protect yourself and your finances. If you found this episode helpful, check out more videos on our channel for additional insights.
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