At Arcstone Financial we take your financial security very seriously. In recent years wire fraud / electronic funds transfer / cyber and email phishing fraud has continued to escalate. Due to this, we have taken measures to notify you as best as possible to ensure that you do not fall victim to such crimes resulting in great financial losses.
During your transaction, you will communicate and conduct business electronically as this is convenient and efficient. This has provided hackers and scammers new opportunities for their criminal activity. The lending industry is at the forefront of these types of scams therefore we ask that you pay extra close attention to all emails and VERIFY ALL information with Arcstone Financial via phone call by speaking with your point of contact ONLY to get confirmation of the validity of any electronic communication.
While wiring or electronically transferring funds is a common convenience, caution should be exercised at all times. Emails attempting to induce fraudulent wire transfers have been received and have appeared to be legitimate. Reports indicate that some hackers have been able to intercept emailed transfer instructions, obtain account information, and, by altering some of the data, redirect the funds to a different account. It also appears that some hackers were able to provide false phone numbers for verifying the wiring or funds transfer instructions. In those cases, the victim called the number provided to confirm the instructions and then authorized a transfer to somewhere or someone other than the intended recipient.
YOU ARE ADVISED TO FOLLOW THESE RECOMMENDATIONS:
If you believe you have received questionable or suspicious wire or funds transfer instructions, immediately notify Arcstone Financial at (323) 665-5000 or at email@example.com.
All other parties need to be notified as well as soon as possible such as your bank, and the Escrow Office. The sources below, as well as others, can also provide information: