Being a victim of commercial real estate wire fraud is every investor’s nightmare. There are actions you can take to protect yourself from wire fraud, but nobody is perfect and anyone can potentially be a target. In this article, we are going to offer up a few actions to take if you’ve been the victim of commercial real estate wire fraud.
Step 1: Contact Your Financial Institution
If you believe that your funds have been transferred to a fraudulent account during your commercial real estate transaction, the first thing you should do is contact your financial institution. Time is of the essence in these situations so it’s important to act as quickly as possible to see if you can try to recover the funds.
Step 2: Contact the FBI
After you can connected with your financial institution to attempt to recover the funds, you should also contact the FBI. They may be able to freeze the funds so you can recover your money. Again – time is of the utmost importance here. Fraudsters work very quickly to abscond with your funds as fast as they can. You have to try and beat them to the punch.
Commercial Partners Title Company
If you are looking for help with your commercial real estate transaction, you’ve come to the right place. Commercial Partners Title Company has been underwriting commercial title transactions for decades. We have the skills and experience to help you through the finer details of your next commercial real estate deal. Contact us today at our downtown Minneapolis location to learn more about our services and see how we can help!