Cybersecurity, Wire Fraud, & Scams

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How To Prevent a Ransomware Attack

Your real estate brokerage, mortgage brokerage, property management company, or appraisal company is dependent upon electronics to function on a day-to- day basis from emails, online research, electronic storage of data, research and the like. Cyber-criminals have developed “ransomware” programs to attack the electronic system of a business. The attack shuts down the electronic transmissionRead More

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Fraud Alert – Seller Carry Back Loans

Be aware of this pattern, typically with residential homes priced from $2 million to $3 million. Here’s how the scam works . . . There’s a request from the buyer for the seller to carry back a loan on a residential property. The deal seems straightforward: Full price cash offer Quick close However, there areRead More

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The Latest in Real Estate Phishing Scams and How to Avoid Them

Phishing is growing in popularity among scammers wanting to earn a quick buck at the expense of unsuspecting real estate brokers and agents. Some schemes are so sophisticated that even the most discerning of professionals can inadvertently get scammed.  As a busy real estate professional, you need to keep informed about the latest phishing scams,Read More

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“Business Email Compromise” Attacks – What they are and how you can avoid them

Business Email Compromise (BEC) attacks are on the rise around the world, and every industry is affected. The FBI’s Internet Crime Complaint Centre (IC3) estimates that more than $26 billion has been lost from BEC fraud over the past three years. But, increasingly, the real estate industry is becoming a high-value target. BEC attacks involvingRead More

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What to Do if You Suspect Money Laundering Through a Real Estate Sale

Money laundering is a growing concern in America. Criminals are getting smarter at finding ways to launder their proceeds of crime, and the real estate industry has become a major target.  Have you suspected money laundering or suspicious activity in the course of your business? It’s important to be aware that it can happen andRead More

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Remote Access for Your Real Estate Team — Security Issues and Tips

Your team members need to be mobile, so they can do their jobs effectively. This means remote access to your company’s server, client files and emails. But what happens if an agent’s device falls into the wrong hands? Or what if you’re hacked?  As a real estate broker, you need to be aware of theRead More

Electronic Document Signing — Managing the Risk

Every good real estate professional wants to expedite the sales process and make it easier for buyers and sellers. Electronic document signing technology can help, especially when dealing with out-of-town buyers or sellers,  or whenever arranging an in-person meeting is difficult. But, you face additional risks when using electronic document signing technology. Risk #1: EnsuringRead More

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Data Security in Real Estate: How to Minimize the Risk of Losing Important Data

Data security is increasingly important in your role as a real estate agent, because you collect data from your clients every day  Further, it’s important data, which in the wrong hands, could be detrimental to both you and your clients. Data security breaches could result in identity theft or fraud, and have long-term consequences forRead More

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Roofing Scam Alert

Real estate brokers, beware of a fraudulent scheme involving listed vacant properties. Here is the scenario. Acting as the property owner or an agent of the listing office, the scammer contacts roofers asking for a quote to replace a roof. The scammer explains that the roof is covered by insurance, and the roofer agrees toRead More

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Real Estate Agents and Identity Fraud – When Someone Impersonates You or Your Business

When you’re a real estate agent, it’s natural to have your name, face and contact details widely publicized to attract business. However, having your details available in the public domain can leave you vulnerable to identity fraud. Identity fraud (or identity theft) occurs when someone assumes your identity using your personal details with the purposeRead More

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