Federal agencies are warning about a scam that targets prospective borrowers who are about to close on their home loans. It’s similar to a scheme being used on job seekers.
Reports have emerged that homebuyers who are nearing the closing date on their mortgages are being targeted by scammers seeking to steal funds from unsuspecting consumers.
An fraudulent email that appears to be from the homebuyer’s real estate agent or settlement agent falsely claims that there is a last-minute change in the closing process.
The homebuyer is told that a check is no longer acceptable or that wiring instructions have changed. New wiring instructions provided are for accounts controlled by the scammers.
Details about the scam were discussed in separate blog posts by the Consumer Financial Protection Bureau and the Federal Trade Commission.
The phishing scam is similar to one announced Thursday by the
Financial Industry Regulatory Authority that targets job seekers.
According to FINRA,
people claiming to be involved in the hiring process for legitimate organizations are using online video platforms, fake emails and copy-cat websites as a way to phish for personal information such as Social Security numbers, credit card information or a bank account number.
The job interview scams involve on-the-spot interviews and a lack of preparation by the person conducting the interview.
Some ask for payments from the employee prospect, and others prompt prospects to download files and documents that contain malware.
