Phoenix homebuyer duped out of $73K in real-estate scam

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One click. One-tenth of a second later, $73,000 disappeared into the ether and two Phoenix home sales were derailed.

It was no accident. Homebuyers across the country are being targeted in custom-tailored email scams aimed at stealing down payments. And the worst part isn't losing years of savings. The scammers depend on you to send them your money.

Forget about anonymous emails promising sweepstakes wins or pleas from Nigerian princes looking to get millions out of their country. This is phishing with an IQ.

These emails are designed to electronically hijack the homebuying process at the most critical moment, just before closing. They go after specific individuals — typically buyers — by adopting the names and titles of real-estate agents, mortgage officials and title agents involved in legitimate transactions.

https://www.azcentral.com/story/news/local/arizona...

MODERATOR NOTE: I featured this thread because this is SO IMPORTANT to be aware of.