Payoff Verification: What the Real Estate Industry Needs to Know

Payoff Fraud is on the Rise It might be tempting to assume this increase in scams was made possible by the ongoing COVID-19 pandemic, but that’s not the case. Payoff fraud was becoming more common well before the pandemic began. Predictions from years ago claimed that this method would overtake buyer-side fraud in “the coming months.” That […]

Escrow Scams: What Every Title Company Should Know

E-commerce continues to gain popularity in the real estate industry and elsewhere. As a result, it’s more important than ever to make sure your title company has a plan in place to deal with escrow scams. These scams, which involve fraudsters posing as trustworthy escrow services during real estate deals and other transactions, have exploded in […]

How Do You Protect Your Clients From Wire Fraud?

These days, just about everybody working in the real estate industry knows that wire fraud is a serious problem. Despite this, it’s easy to underestimate how massive this issue has become. According to the FBI, an estimated 13,638 individuals fell victim to real estate wire fraud in 2020–a number 17% higher than 2019.  So, how do you […]

4 Ways To Prevent Real Estate Fraud

Real estate fraud hurts everyone but the scammers themselves, including trustworthy home buyers, real estate agencies, and attorney offices. And the problem is continuing to grow. In 2019 the FBI looked into 23,000 complaints related to Business Email Compromise, or types of fraud where legitimate email accounts belonging to businesses are hijacked or impersonated by scammers. […]

Why You Should Stop Emailing Out Wire Instructions

It’s not a great idea to open emails from Nigerian princes, but it’s a terrible idea to actually wire those princes any funds, no matter how great the promised payout is. So, what about when you’re working with a credible title agency or settlement company on the sale of a property? Sending and receiving documents […]

ZDNet – Don’t want to get hacked?

Insert Headline CISA (US Cybersecurity and Infrastructure Security Agency) warns of risky behaviours that leave networks exposed to cyberattacks – and should be addressed immediately if employed. FULL ARTICLE →

Educating New Homebuyers About Wire Fraud in Real Estate

The entire mortgage closing process to close on a new home – and get the keys in hand – can be exhausting for new homebuyers. As you know, there is a lot that goes into buying a home –  many careful steps must be taken and a lot of paperwork needs to be drawn up, reviewed, and […]

Importance of Wire Transfer Security

Wire transfers offer a great solution for transferring money between two parties in a matter of minutes – and all you need is a banking account and routing number. With the click of a button, money will leave one account and transfer to another, regardless of the banking institution. Businesses around the globe use these […]

Can a Wire Transfer Be Reversed?

Fraudulent scams are at every turn. It’s no surprise that wire transfers – one of the fastest, easiest ways to send money – can be a target. Though, many businesses around the world use wire transfers to send and receive money every day.  Once you send a wire transfer, the chance of wire transfer reversal […]