{"id":6634,"date":"2025-07-09T16:56:56","date_gmt":"2025-07-09T20:56:56","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=6634"},"modified":"2025-07-09T16:56:58","modified_gmt":"2025-07-09T20:56:58","slug":"first-phishing-now-quishing-alta-on-the-new-face-of-deed-fraud","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/first-phishing-now-quishing-alta-on-the-new-face-of-deed-fraud\/","title":{"rendered":"First Phishing, Now Quishing\u2026 ALTA on the New Face of Deed Fraud"},"content":{"rendered":"\n
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The DC-based American Land Title Association (ALTA) wants you to imagine a scenario that, one day soon, you could face. You\u2019re a home buyer. You\u2019ve talked with the lender a few times in the past, and know the company logo and email style. You\u2019re familiar with the loan officer\u2019s voice.<\/p>\n\n\n\n

The lender has left a voicemail message on your phone. You check your emails \u2014 yes, there\u2019s a follow-up message. It contains updated wiring directions. You follow the detailed instructions when sending your down payment.<\/p>\n\n\n\n

Next thing you know, your money has been taken by a criminal. You\u2019re the latest victim of wire fraud<\/a>. That voicemail was generated by AI (artificial intelligence). And the email was written with information that the sender had no right to know.<\/p>\n\n\n\n

Imagining this scenario isn\u2019t pleasant. But a mental walkthrough will help you deal with a real situation in which someone attempts to manipulate you.<\/p>\n\n\n\n\n\n\n\n

The Deepfake: Now It\u2019s Getting Personal<\/h2>\n\n\n\n

ALTA discusses information from data security company Closinglock on the new face of computer-generated fraud. Deepfakes<\/a>, made with artificial intelligence, are making real estate fraud extremely treacherous. In one recent occurrence, a Florida title company was the target.<\/p>\n\n\n\n

The presumed home seller agreed to a video call. The title agent said the person on the other side of the call seemed perfectly real, matching the personal characteristics of the deed holder. Then the title agent asked this \u201cseller\u201d to raise a hand. No response.<\/p>\n\n\n\n

The person on the screen was a deepfake.<\/p>\n\n\n\n

As you can see, a prepared title agent would not just let a remote seller communicate by email or text. Setting up the video call and catching the fraudster in action was a master stroke \u2014 exactly the kind of thing diligent title professionals are now doing.<\/p>\n\n\n\n

Fraudsters Have Jumped on Generative AI<\/h2>\n\n\n\n

This innovation can create text, based on the user\u2019s requests and input. In seconds, machine-trained data processors whip up compelling emails and texts for a swindler to use in \u201cphishing\u201d messages. These are made to get you on their hooks. Once you bite, they reel in your personal data \u2014 or your funds.<\/p>\n\n\n\n

Con artists begin with publicly available data. Examples of what the perpetrators can find online may include tax records and home deeds. Fraudsters also deploy robotic tools (bots) to do their reconnaissance and data scraping from online sources. Bots can extract information from LinkedIn and listing services. The culprits may be using the real deed holder\u2019s Social Security and motor vehicle IDs. They might falsely notarize deeds with real notary stamps they\u2019ve managed to get hold of.<\/p>\n\n\n\n

Then they produce perfectly real-looking, personalized phishing emails. These are powerfully effective, reports ALTA. The use of artificial intelligence makes a recipient three times as likely to click on a link, and potentially fall for a trick, than emails humans draft.<\/p>\n\n\n\n

AI can also produce images, videos, and voices. Scammers can \u201cclone\u201d someone\u2019s voice using just a few seconds of recording.  <\/p>\n\n\n\n

A real estate lawyer\u2019s voice and image was cloned so well, ALTA reports, that after a Zoom call with a \u201cclone\u201d of the professional, a couple in California wired $720K to a bogus account.<\/p>\n\n\n\n

Sometimes, the culprits themselves are in positions where they are supposed to keep customers safe. Last year, an employee of a Texas title and trust company admitted to fabricating lien payoff statements, warranty deeds, and email messages to improperly transfer properties. The recipients were innocent buyers, lenders, and title agents. This cost customers \u2014 and the fraudster\u2019s company \u2014 hundreds of thousands of dollars before the scheme was exposed and stopped.<\/p>\n\n\n\n

New Ploy: What to Know About \u201cQuishing\u201d<\/h2>\n\n\n\n

A quick-response (QR) code is a barcode, often square-shaped, that a smartphone can read. It typically connects the person who scans it with a webpage. Scammers hijack QR-codes in a ploy called quishing.<\/p>\n\n\n\n

The unknowing user could be steered away from a legitimate site to a bogus webpage. The user might even have to go through security steps along the way.<\/p>\n\n\n\n

If the page is a form, some of the information fields could already be completed. It\u2019s looking for more information, such as passwords.<\/p>\n\n\n\n

Requests for scanning QR codes should be used carefully. If you visit a webpage after scanning one of these codes, use strong caution if asked to create or type in your user name and password.   <\/p>\n\n\n\n

When in doubt, close out the page and revisit it using your regular web browser. Or call the entity to verify that a request is legit before trying to connect.<\/p>\n\n\n\n

Become Fraud-Aware<\/h2>\n\n\n\n

Keeping up with fraud techniques can be well worth the effort. Many people are fooled, especially by swindlers equipped with the latest in generative AI \u2014 as most swindlers are. Know the basics, too:<\/p>\n\n\n\n