CRE Insider Blog
Welcome to the Commercial Real Estate Insider, insights from First American's real estate experts.

Look Odd? Think Fraud.

By First American on December 6, 2021

Preventing wire fraud is an orchestrated effort.

At the end of yet another unprecedented year of change and evolution, the commercial real estate industry continues to thrive. But with so many transactions closing – particularly as we look toward the end of Q4 – continuing to protect our businesses from fraud remains one of our most important...

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Topics: Commercial Real Estate Title Insurance wire fraud

When There's Millions At Stake, It's All Down To The Wire

By First American NCS on November 2, 2021

We don’t just streamline your transaction. We protect it.

Each year, we see more attempts to divert transactional funds directly into fraudsters bank accounts – and every year, these fraudsters get sneakier. In fact, scammers target a third of all title wire transactions, according to ALTA[i], and in 2020 alone, more than $213 million in real...

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Topics: Cybersecurity wire fraud clarityfirst

Fincen (financial Crimes Enforcement Network) Modifies Gtos For Reporting Cash Purchases

By Mike Berey on December 3, 2019

 

FinCEN has issued Geographic Targeting Orders (“GTOs”) requiring certain U.S. title insurance companies to identify the natural persons behind companies used to pay all cash for high-end residential real estate in New York City, Broward, Palm Beach and Miami-Dade Counties in Florida, Bexar County, Texas, Los Angeles, San Diego, San Francisco,...

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Topics: FinCEN wire fraud

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