Tag: wire fraud
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First Phishing, Now Quishing… ALTA on the New Face of Deed Fraud
The DC-based American Land Title Association (ALTA) wants you to imagine a scenario that, one day soon, you could face. You’re a home buyer. You’ve talked with the lender a few times in the past, and know the company logo and email style. You’re familiar with the loan officer’s voice. The lender has left a…
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Selling a Home, But Not Your Own: The Dramatic Rise of Seller Impersonation Fraud
The American Land Title Association surveyed hundreds of title companies — 783, to be precise — and found seller impersonation fraud rising year over year. More than 20% of the firms reported recent instances of this bizarre activity. Crafting elaborate hoaxes, these con artists pretend to be ordinary real estate owners. They are masters of…
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Wire Fraud at Closing. Who’s on the Hook?
Over the past three years, wire fraud in home purchases has gone up sharply. Many victims are turning to court to seek damages after losing much of their life savings to the scammers involved. But who can they go after? The bank? An insurer? The title company? The agent? Some of the players (like banks…
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Say the F Word: Real Estate Agents Need to Warn Us About Fraud
No one wants to fall prey to scam artists. Better guidance from real estate agents would be a big help. After all, a staggering fifth of fraudulent money transfer requests pretend to be coming from real estate professionals. So, why aren’t clients getting stronger warnings?
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Ahoy There, Matey! Look Out for the Title Pirates
We all know about porch pirates… but look out for title pirates. They’ll take your whole porch. Title piracy is deed fraud. It happens when someone uses a deed to deliberately take over someone else’s real estate. It’s an unusual crime, but according to the National Association of REALTORS® (which cites FBI figures), it’s been…
