From NAR
Artificial intelligence is creating new opportunities, but it is also giving scammers new tools. One growing concern in real estate is the use of deepfakes, which are AI generated videos, images, or audio recordings designed to mimic a real person.
In real estate transactions, deepfakes can be used to impersonate buyers, sellers, agents, attorneys, or title professionals. Scammers may attempt to change wiring instructions, redirect closing funds, or create fake listings using altered images or videos.
Because transactions often involve large sums of money and digital communication, it is important to stay alert. Always verify wiring instructions by calling a trusted phone number rather than relying on email or unexpected messages. Be cautious of urgent changes to payment instructions and avoid working with parties who only communicate online.
If you suspect fraud during a transaction, immediately contact everyone involved and report the incident to local law enforcement or the FBI’s Internet Crime Complaint Center.
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