Skip to content

EAC? Real Estate Services how does this happen?

Answered by: 

Question: 
How does an EAC work for real estate transactions?
Answer: 

A criminal compromises the e-mail account of a realtor or of an individual purchasing or selling real estate, for the purposes of altering payment instructions and diverting funds of a real estate transaction (such as sale proceeds, loan disbursements, or fees). Alternately, a criminal hacks into and uses a realtor’s e-mail address to contact an escrow company, instructing it to redirect commission proceeds to an account controlled by the criminal.

--------------------------

Learn more about Deborah Crawford’s Preventing human trafficking and other crimes webinar.

First published on 08/07/2022

Search Topics