Criminals compromise or spoof email accounts of attorneys, title companies, or transaction parties. They monitor closing communications, then send convincing emails with fraudulent wire instructions timed to when the recipient expects to transfer funds. The email appears legitimate - using a spoofed or slightly altered sender address - and the recipient wires money to a criminal-controlled account. Recovery is extremely difficult once funds are sent.
From the seller playbook: Wire Fraud Prevention for NYC Sellers
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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