Scam control
A detailed explanation on the escrow market and our curated appraoch to solving the problem in the market
Overview of Escrow scam
The Escrow Space in its entirety is renowned for its large flow of Funds. This has made it imperatively the target of hackers and cybercriminals from the onset. However, CONFAM MONEY has implemented the approach of a highly secured verification and authentication process within its platform which serves as a shield and validation for all transactions.
Red Flags of possible payment Scam
- Straw buyers
- Property flipping
- Non-arms-length transactions
These are loan applicants used by fraudsters to disguise the true buyer or the true nature of the transaction.
This is when a property or goods is purchased and resold quickly in violation of the lender's short sale regulations at a price that results from an appraisal that has been artificially inflated.
When the parties appear to be connected in some way, wheththrough ethnic background, names or residence
Avoiding escrow scams
You can take steps to protect yourself from escrow scams when purchasing something from another person online, including: Check the sender's email address. Be cautious when opening links. Don't trust the information in emails. Be wary of unusual payment methods.
Questionable payment approachs
- Look for suspicious payoff demands, such as those with grammatical or typographical errors, or those with low dollar payoff demands on high dollar loans.
- Uninsured deeds in a transaction.
- Repeated refinances for the same amount on the same property in short time frames.
- Call the number on payoff demands to confirm they are real numbers.
- Keep management apprised of these red flags so that legal counsel can be consulted when appropriate.
Report suspicious transactions to us
We can be reached directly via our customer service lines, you can also send us a mail for prompt mediation and resolution.Contact.
