Hackers Target Homeowners or Potential Buyers With Mortgage Scheme

Phishing scams are nothing new to the world of email, but a disturbing mortgage scheme has recently emerged and targets existing homeowners or anyone looking to purchase a new home. The scam is so effective, over $5 billion dollars has been bilked out of innocent people.

One way to protect yourself from online phishing attacks is to download dfndr security. Providing a host of solutions, dfndr security monitor’s your Android phone for any signs of malware. An advanced anti-hacking feature, when activated, can notify you of suspicious links before you even click on them.

 

The latest phishing scams have been utilizing a more malevolent form of deception known as spear phishing. While a standard phishing attack is aimed at many individuals at once, a spear phishing attack is directed at a single individual. Scammers first collect information by digging into your personal and professional life so when they launch an attack, it seems realistic and trustworthy.

Read More: Don’t Get Poked by Spear Phishing Attacks: Learn Hacking Methods

Many times you can rule out standard phishing emails through mere observations like receiving an email from the incorrect email address or noticing the greeting doesn’t address you by name. However, due to sophisticated spear-phishing techniques, using only observation may fail you.

This newest scam begins with hackers targeting employees working within credit mortgage lending institutions and real estate agencies. A phishing email is sent in an attempt to trick the employee into providing sensitive information such as an email login password. Once the hacker gains access to specific information, they can then begin analyzing data on customers of the lending institution or real estate company.

All of this data collecting leads to their final plan: sending you an email from a legitimate address that either con you into sending a downpayment on a new home or your monthly mortgage payments to a fraudulent account. The terrible blow about this scam is once any money is wired; getting it back is highly unlikely.

When receiving emails from essential institutions, such as your bank or a broker, be careful of the information you’re choosing to share. If you get an email requesting new financial details or payment requests, check with the company directly to ensure it’s legitimate. Keep your eyes sharp and have an anti-hacking solution for your devices to help you avoid running into any trouble.