Shark Tank Wire Fraud
Here is why you should always personally verify wiring information: Phishing scams are on the rise with real estate purchases where criminals fake an email with wiring information to those they know are involved in a transaction. The buyer realizes too late that they have sent their money to a fake account controlled by a hacker, rather than the intended recipient. We have seen this happen one too many times. It is a real thing, friends. Always verify wiring instructions on the phone with a real person that you have done business with!
This happened recently to veteran real estate investor Barbara Corcoran, of Shark Tank fame. Someone sent an invoice for a property renovation to her bookkeeper. The bookkeeper wired the money to the tune of $388,700 to a scammed account.
This money is near impossible to recover once it is sent. It is a heartbreak best avoided by being extra careful when sending money. Phisihing is lucrative because there is always someone moving a little too fast through their day, missing critical clues. Don’t take the bait!