Cyber Crime Continues, Education is Needed

January 30, 2020
Brokers around the country tell horror stories about buyers losing hefty deposits to hackers posing as real estate agents, mortgage lenders, or escrow company representatives. Some 11,300 people were victims of wire fraud in the real estate and rental sector in 2018, representing a 17 percent increase compared to 2017, according to FBI data. Lossesā€¦

 

ALTA Warns of Scams, Encourages Consumer Education

June 29, 2017
Homebuyers are being targeted by wire fraud schemes aiming to poach funds for real estate closings, and the American Land Title Association (ALTA) wants the federal Consumer Financial Protection Bureau (CFPB) to take action. "Despite efforts by the title industry and others to educate consumers about the risk, homebuyers continue to be targeted," says Michelleā€¦