avoiding wire fraud

Wire fraud is a federal and local crime in which fraudsters insert themselves in a transaction by impersonating lenders, title companies, or agents and attempt to redirect funds to themselves.  In a real estate transaction, the target is usually the seller's proceeds, buyer's closing funds, or lender's compensation and the mechanism is through Business Email Compromise (BEC).  In this scheme, fraudsters create and send emails that appear legitimate and convince victims to wire funds to accounts controlled by them - often in foreign countries where it's difficult to trace or recover the funds.  Leap Settlement Services is committed to creating awareness around wire fraud and alerting parties of the risks, as well as doing our part to prevent a crime. 

Leap Settlement Services will always utilize secure emails to send wiring instructions, and only when requested by a party to the transaction.  Leap Settlement Services also requires parties to verify the data verbally by placing a call to our office.

If you receive wire transfer instructions or demands to send funds, STOP and call us immediately.