The Colorado Division of Real Estate at the Department of Regulatory Agencies (DORA) warns Colorado consumers to beware of a national cyber-scam currently taking place that steals money directly from home buyers and sellers.
The Division continues to receive information about this cyber scam in which cybercriminals hack the email accounts of real estate brokers, title companies, and consumers who are in the process of buying or selling a home. In other instances, they create alternative email accounts with just minor changes to the name of the email account, which typically goes unnoticed by the recipient of the email.
“Unfortunately the costs to Colorado consumers can be in the tens to hundreds of thousands of dollars with just one successful scam,” stated Marcia Waters, Director of the Division of Real Estate. “Unless you pay very close attention, everything may look right -- the email signature, address and the website. But, by the time homebuyers realize something is wrong, the money is already gone and in an untraceable bank account, leaving them at the closing table with no money and eliminating their ability to purchase the home.”
Click Here to read the Commissions Consumer Alert on Wire Fraud
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