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THROUGH THE WIRE — A coalition is debuting today to combat wire transfer fraud

Friday, June 28, 2019   (0 Comments)
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"THROUGH THE WIRE A coalition is debuting today to combat wire transfer fraud that targets prospective home buyers, a fast-growing segment of victims. During such attacks, also known as business email compromise, fraudsters spoof emails to make convincing-looking requests. Stop Real Estate Wire Fraud will announce its formation at a press conference as it also launches an awareness campaign targeting three cities where millenial home ownership is increasing: Birmingham, Ala., Pittsburgh and Virginia Beach, Va.

 

The FBI estimated that thousands of U.S. victims lost $149 million to real estate wire fraud in 2018, a 166 percent increase from 2017. Sen. Doug Jones (D-Ala.) will join the group during its announcement today. Coalition members include the American Land Title Association, American Escrow Association, Community Mortgage Lenders of America and Real Estate Services Providers Council."

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