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Industrial-2743

Kasasa Protect

Kasasa Protect is Industrial's newest way to keep our customers safe from data breaches, credit card fraud and Identity theft.

Mel

Get social with Industrial Bank

Industrial Bank wants to "get social" with you! Follow us on Facebook, Twitter, LinkedIn or our YouTube channel to interact with us.

JB

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Customer Service is key here at industrial Bank. Tell us how we can make your next visit in our banking centers better.

Real Estate Wire Scam

DISB Warns of Real Estate Scams

Financial Tips

DISB warns consumers Beware of Real Estate Wire Scams. Protect yourself. Read More

Be suspicious of unsolicited e-mails asking you to click on a link, download an attachment, or provide account information.

If the web address starts with "https://" this means your information is encrypted on the site.

Use the strongest method available to log into financial accounts, especially for high-risk transactions.

Install software that protects against malware, or malicious software, which can access a computer system without your consent to steal passwords or account numbers.

Financial aid can be a key component in paying for college. Learn more about how to compare financing options

Should you use your extra money to pay down debt or put into an investment? Explore how your rate of return could compare to your cost of debt, taking taxes into account.

It’s never too early to think about your retirement. Develop a strategy to meet your retirement savings goals.

Financial Tips in the Aftermath of the Federal Government Shutdown

Beware of Real Estate Wire Transfer Scams

District consumers should beware of real estate wire transfer scams, warns the District of Columbia Department of Insurance, Securities and Banking (the Department).

The following is an example of the scam. District homebuyers John and Catherine were eagerly awaiting closing on the purchase of their dream home. They believed they were one step closer to making their dream a reality when they received an email from their title company instructing them to immediately wire $400,000—the balance of their purchase price—to the title company’s account number. When John and Catherine arrived at the offices of the title company for their scheduled closing five days later, an attorney for the title company told them that the funds they thought they had wired to the title company’s account were never received. Sadly, John and Catherine soon discovered that their $400,000 wire transfer ended up in a hacker’s U.S. bank account. The hacker immediately wired the funds from his account to an offshore bank, never to be recovered.

Unfortunately, this scenario has become all too common as title companies and real estate professionals increasingly rely on electronic mail to provide real estate purchasers and sellers with wire transfer instructions in advance of their closings. The real estate wire transfer scam is carried out by sophisticated hackers who send phishing emails containing malware to employees of title companies and real estate professionals. When the employees click on the links provided in those emails, it gives the hacker access to email accounts. Once inside the compromised system, the hacker obtains information about upcoming real estate transactions. After determining the closing dates, the hacker poses as the real estate professional or the title company representative and sends an email to the purchaser. The phony email advises that there has been a last-minute change to the wiring instructions and directs the buyer to wire the balance of the closing costs to a different account (i.e., the hacker’s account).

The Federal Trade Commission and the National Association of Realtors® have warned home buyers about the email and wire transfer scam. If you are buying a home and get an email with money-wiring instructions, STOP. Email is not a secure way to send financial information, and your real estate professional or title company should know that.

To avoid wire transfer scams:

  • Do not email financial information. Email is not secure. Also, never follow wire instructions sent to you by email.
  • Meet in person with your trusted real estate professional or title company representative to discuss financial information and to verify the account name and number where your money should be wired. Be suspicious of any email, text message, or telephone call advising you of a last-minute change to the account number that was provided to you by the title company for your wire transfer.
  • Be cautious before opening attachments, clicking on email links, or downloading files from emails, regardless of who appears to have sent them. These files may contain malware that can weaken or compromise your computer’s security.
  • Keep your operating system, browser, and antivirus software up to date.
  • If you suspect that you unknowingly wired money to a scammer, contact your financial institution immediately and request a wire recall.
  • For additional tips, visit IdentityTheft.gov.

If you believe you have been a victim of a financial scam or have questions, please contact the Enforcement and Consumer Protection Division of the District of Columbia Department of Insurance, Securities and Banking at 202-727-8000.

About the Department of Insurance, Securities and Banking
The mission of the District of Columbia Department of Insurance, Securities and Banking is three-fold: (1) cultivate a regulatory environment that protects consumers and attracts and retains financial services firms to the District; (2) empower and educate residents and(3) support the development and expansion of business. Visit us at disb.dc.gov.


District of Columbia Department of Insurance, Securities and Banking
Office of Communications
1050 First Street NE, Suite 801, Washington, DC 20002


Industrial-2743

Kasasa Protect

Kasasa Protect is Industrial's newest way to keep our customers safe from data breaches, credit card fraud and Identity theft.

Mel

Get social with Industrial Bank

Industrial Bank wants to "get social" with you! Follow us on Facebook, Twitter, LinkedIn or our YouTube channel to interact with us.

JB

Rate your Visit

Customer Service is key here at industrial Bank. Tell us how we can make your next visit in our banking centers better.

Just a note, the customer services I received today was outstanding, knowledgeable, patient, professional and simply helpful. Mrs. Tekel is an asset.

Norman R. Hodges
Owner of 4c Mobile Services

From out first interaction 9 years ago until today, everyone and I do mean everyone, has always gone above and beyond to make our customer experience the best it could be.

Salvatore Speziale
Ciao Osteria Italian Restaurant

Thank you to Industrial Bank for helping the black church throughout your entire 80 years. Thank you for how you empower the community.

Rev. Dr. G. Browning
Pastor of Ebenezer AME Church

Industrial has made a big difference in the African American community. So many people depend on it. I’m so proud of them and all they do.

V. Ali
Co-owner of the popular DC eatery Ben’s Chili Bowl

They are very straightforward without the gimmicks and hidden fees. The Business/Non-profit account fees they do have are the lowest, especially in the DC Metro area. I love this bank and can't believe I had not tried them sooner.

Tariq

So neat to just learn that this bank still exists and to know that it has existed for 80 years. I know that it was right down the street from me when I was a child now I am 61! :-)

Gaye Bri Moore

With my new job, I will be depositing my coins into a Black Owned bank (@BankIndustrial). Goodbye, Bank of America.

D. Gambrell @DcsMediaDiva

As a millennial I'm proud to be a part of @BankIndustrial. -@savantmusa


Another awesome experience at @BankIndustrial. I discussed the need for an internship for students with them. Gotta look out for the youth.

M. Hughes

We are moving our resources to a Black bank @BankIndustrial in DC that is investing & helping our community. @revtonylee #ReachWithUs - ABFE @ABFE


The DC Chamber is proud to support and to provide value funding to DC area companies fueled by great ideas and sound business leadership. The winners of this grant program represent some of the best and brightest of the region’s leading small businesses.

H. Wingo

Our commitment has only grown stronger though the years, and we stand poised to bring our unwavering commitment of delivering convenient, personalized, high-quality products to the communities we serve.

B. Doyle Mitchell, Jr.
President/CEO of Industrial Bank

Banking with Industrial has been easy. My banker at the Oxon Hill banking center helped me establish a Student Checking account, so now I can bank on the go.

C. Johnson
College Student

Industrial helped me make my small business more successful. I received an SBA-expedited loan and merchant services, and I get fantastic service.

M. Luiz
Small Business Owner

I never knew helping my customers could be so easy! Industrial offers mortgage products and friendly service to help first-time home buyers, with no down payment!

J. Smith
Realtor

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Financial Education

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