Current Wire Fraud Schemes and Ways to Protect Your Business
By
Steve Rogers on November 15, 2023
Real estate wire fraud is on the rise. According to CertifID, reports of wire fraud increased by 145% in 2022. While consumer real estate payments the most frequent target, commercial transactions pose a greater monetary risk due to the traditional size ...
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Topics: Commercial Real Estate Commercial Title Insurance Cybersecurity wire fraud BEC fraud protection
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 ...
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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 ...
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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 ...
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Topics: FinCEN wire fraud