Money.com – I Almost Lost $50,000 to a Real Estate Scam

“These spoofed emails are not the typical scam emails with misspellings and typos,” says Andy White, CEO of Closinglock, which helps title companies ward off wire fraud. “These are targeted, well-crafted spoofed emails that look like they are from the title or escrow company or attorney office. When there are hundreds of thousands or millions […]

How to Report Wire Fraud

As technology continues to grow at an unprecedented pace, internet hackers have found more and more opportunities to target unsuspecting victims. While it’s important to stay vigilant to ensure you don’t fall for these schemes, knowing how to report wire fraud is essential if you ever fall victim to a scam. What is Wire Fraud? […]

What Is Wire Fraud?

Every year, fraudsters swindle people, businesses, and even the government out of billions of dollars. The majority of these scams occur through telecommunications, meaning it is more important than ever to stay vigilant to ensure you don’t fall victim to wire fraud. Types of Fraud In general, fraud can be defined as any type of […]

Key Takeaways From the FBI’s 2020 Internet Crime Report (IC3)

For those of us with a vested interest in reducing the number of internet-based crimes, last year’s Internet Crime Report is a sobering reminder that there’s still much work to be done, both in educating consumers and in safeguarding their interests. Here are some of the most important takeaways from the FBI’s 2020 Internet Crime […]

Why Isn’t Real Estate Wire Fraud Insured?

Wire fraud has been in the news a lot lately, but if you’re a little bit hazy on the details, you’re not alone. Most people have heard of wire fraud before, but fewer understand what it is and why it’s becoming increasingly common. Below, we answer some common questions asked about wire fraud and wire fraud […]

How to Prevent Fraud During the Holidays

It’s a busy time of year for everyone, including scammers. Unfortunately, the season of giving has also become a popular season for taking, with holiday scammers preying on online shoppers frantic to get that hit toy that’s sold out everywhere or to place their orders before shipping deadlines. Here are some tips from the FBI on how […]

Real Estate Wire Fraud: Who Is Liable?

It’s a simple question with no easy answer: who is liable for real estate wire fraud? In a perfect world, it would be the criminal responsible for the fraud who would pay restitution, but in many cases, these criminals are never caught or are located overseas—and even if they are caught, it doesn’t resolve the […]

Real Estate Wire Fraud Statistics

Real estate wire fraud is growing leaps and bounds in recent years, with seemingly no end in sight. No one thinks they’ll be a victim of wire fraud, but criminals are becoming increasingly savvy in their schemes, using technology to spoof phone numbers and emails and preying on the fact that most homebuyers are on edge […]

How to Avoid Wire Fraud in Real Estate

Real estate wire fraud is becoming increasingly common throughout the United States. Data from the Federal Trade Commission shows an 1100 percent increase in mortgage-related wire fraud from 2015 to 2017. Even savvy consumers fall prey to these scams, so it’s important for everyone involved in the property transfer process to be aware of the […]