{"id":22556,"date":"2023-08-14T13:42:09","date_gmt":"2023-08-14T13:42:09","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=22556"},"modified":"2023-08-14T13:42:10","modified_gmt":"2023-08-14T13:42:10","slug":"why-first-time-buyers-are-ideal-victims-for-scammers","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/why-first-time-buyers-are-ideal-victims-for-scammers\/","title":{"rendered":"Why First-Time Buyers Are Ideal Victims for Scammers"},"content":{"rendered":"\n<p>Cyber criminals aim to take advantage of those who aren\u2019t familiar with the nuances of the closing process.<\/p>\n\n\n\n<p>Younger home buyers who don\u2019t have prior experience in the real estate market may be more naive to the <a href=\"https:\/\/www.nar.realtor\/videos\/window-to-the-law\/avoiding-wire-fraud-in-transactions\">red flags of wire fraud<\/a>. That\u2019s why scammers likely are targeting first-time buyers, which means you need to beef up on <a href=\"https:\/\/www.nar.realtor\/law-and-ethics\/cybersecurity-checklist-best-practices-for-real-estate-professionals\">cybersecurity best practices<\/a> and share ways to <a href=\"https:\/\/www.nar.realtor\/magazine\/real-estate-news\/technology\/how-to-thwart-6-hacking-threats\">thwart common hacking threats<\/a> with these clients. The threats are real: About half of title and settlement agents report receiving at least one phishing email a month with fraudulent wire instructions, according to a recent survey from the American Land Title Association.<\/p>\n\n\n\n<p>A new generation of home buyers and sellers must learn to be alert to the dangers, says ALTA CEO Diane Tomb, who spoke with REALTOR\u00ae Magazine about the increasing threats.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What makes first-time buyers most vulnerable to wire fraud?<\/h2>\n\n\n\n<p><strong>Tomb:<\/strong> First-time home buyers, who are not as familiar with the nuances of the closing process, are often the most vulnerable to scams because they don\u2019t know what to look out for. Even though many are digitally savvy, <a href=\"https:\/\/www.nar.realtor\/magazine\/real-estate-news\/new-wire-fraud-scheme-exploits-virtual-meetings\">cybercriminals have become more sophisticated<\/a> over the last decade and are willing to wait for weeks or even months to strike. These fraudsters will often use fake emails, phone numbers or websites to impersonate a trusted real estate professional.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How do you explain how a wire fraud scheme works to clients?<\/h2>\n\n\n\n<p><strong>Tomb:<\/strong> Wire transfer fraud, where home buyers are tricked into wiring a down payment or closing costs to an escrow account controlled by criminals, is by far the most common real estate scam impacting first-time buyers. Most often, cyber criminals begin with a common social engineering technique called \u201cphishing.\u201d By tricking a future buyer into inputting their private information or clicking a link, hackers then steal their login and password information. Once hackers gain access to an email account, they will monitor messages to see if the person is in the process of buying a home. Then, they use the stolen information to email fraudulent wire transfer instructions disguised to appear as if they came from a trusted real estate professional.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What can real estate pros do to protect first-time buyers?<\/h2>\n\n\n\n<p><strong>Tomb:<\/strong> We know through experience that increased consumer awareness and educational efforts by real estate professionals lead to fewer victims. Real estate attorneys and title companies should continue to educate their customers on these scams, including putting consumer warnings on websites and communications, securing email communications, and sending notices to consumers and real estate agents informing them of the scams.<\/p>\n\n\n\n<p>\u00a9National Association of REALTORS\u00ae<br \/>Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cyber criminals aim to take advantage of those who aren\u2019t familiar with the nuances of the closing process. Younger home buyers who don\u2019t have prior experience in the real estate market may be more naive to the red flags of wire fraud. That\u2019s why scammers likely are targeting first-time buyers, which means you need to &hellip; <\/p>\n<p><a class=\"more-link btn\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/why-first-time-buyers-are-ideal-victims-for-scammers\/\">Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-22556","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why First-Time Buyers Are Ideal Victims for Scammers - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/why-first-time-buyers-are-ideal-victims-for-scammers\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/why-first-time-buyers-are-ideal-victims-for-scammers\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/why-first-time-buyers-are-ideal-victims-for-scammers\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Why First-Time Buyers Are Ideal Victims for Scammers\",\"datePublished\":\"2023-08-14T13:42:09+00:00\",\"dateModified\":\"2023-08-14T13:42:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/why-first-time-buyers-are-ideal-victims-for-scammers\\\/\"},\"wordCount\":445,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/why-first-time-buyers-are-ideal-victims-for-scammers\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/why-first-time-buyers-are-ideal-victims-for-scammers\\\/\",\"name\":\"Why First-Time Buyers Are Ideal Victims for Scammers - 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Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania\u2026 call Anthony DiDonato.\",\"sameAs\":[\"http:\\\/\\\/www.anthonydidonato.net\"],\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why First-Time Buyers Are Ideal Victims for Scammers - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.anthonydidonato.net\/wordpress\/why-first-time-buyers-are-ideal-victims-for-scammers\/","twitter_misc":{"Written by":"admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/why-first-time-buyers-are-ideal-victims-for-scammers\/#article","isPartOf":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/why-first-time-buyers-are-ideal-victims-for-scammers\/"},"author":{"name":"admin","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"headline":"Why First-Time Buyers Are Ideal Victims for Scammers","datePublished":"2023-08-14T13:42:09+00:00","dateModified":"2023-08-14T13:42:10+00:00","mainEntityOfPage":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/why-first-time-buyers-are-ideal-victims-for-scammers\/"},"wordCount":445,"publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"keywords":["Anthony DiDonato","News","Real Estate","tips"],"articleSection":["News","Real Estate Tips"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/why-first-time-buyers-are-ideal-victims-for-scammers\/","url":"https:\/\/www.anthonydidonato.net\/wordpress\/why-first-time-buyers-are-ideal-victims-for-scammers\/","name":"Why First-Time Buyers Are Ideal Victims for Scammers - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","isPartOf":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#website"},"datePublished":"2023-08-14T13:42:09+00:00","dateModified":"2023-08-14T13:42:10+00:00","breadcrumb":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/why-first-time-buyers-are-ideal-victims-for-scammers\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.anthonydidonato.net\/wordpress\/why-first-time-buyers-are-ideal-victims-for-scammers\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/why-first-time-buyers-are-ideal-victims-for-scammers\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/www.anthonydidonato.net\/wordpress\/"},{"@type":"ListItem","position":2,"name":"Why First-Time Buyers Are Ideal Victims for Scammers"}]},{"@type":"WebSite","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#website","url":"http:\/\/www.anthonydidonato.net\/wordpress\/","name":"Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","description":"Properties and Real Estate for Sale","publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/www.anthonydidonato.net\/wordpress\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","url":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","contentUrl":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","caption":"admin"},"logo":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg"},"description":"For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. 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