Home sellers this summer are increasingly vulnerable to data theft and scams as personal information becomes readily available through property records and data brokers. Scammers are exploiting this information, posing a significant risk to sellers' financial security.
The real estate industry has seen a rise in wire fraud, where criminals impersonate agents or title companies to divert funds. This often begins with relatively minor data breaches or the aggregation of public records, which can then be used to craft convincing phishing attempts or social engineering schemes.
Property records, which are often publicly accessible, provide a wealth of information including ownership details, transaction history, and sometimes even mortgage information. Data brokers further compile and sell this information, making it easier for malicious actors to target individuals selling their homes. This data can be used to create fake websites, send fraudulent emails, or directly contact sellers with deceptive offers or requests.
Homeowners preparing to sell should be extra vigilant about their online presence and the security of their personal information. Awareness of these scams and proactive steps to protect data are crucial during the peak summer selling season.