Hot on the heels of the release of the staggering statistic by the FBI that title agents reported a 480% increase in wire fraud attacks in 2016, it’s increasingly clear that YOU are a target and so are your clients.
You and I know that cyber security and wire fraud scams have been a huge concern and topic in the last year in the title industry. It seems like these hackers are getting more and more savvy and attacks are harder and harder to identify. Now, it’s making national news, because, despite the awareness, people are still falling victim.
Just this week, a national news outlet is reporting that one Minnesota couple buying a home lost $205,742 to wire fraud. Check out the story from the NBC Nightly News:
You’ll notice in the story that the email came from what appeared to be the title agent. The problem is that even when someone is aware of these types of scams, often buyers cannot discern the difference between a legitimate email and a scam. It’s really because those phishing attempts use very sophisticated social engineering tactics.
Want more information on how you can educate your team and your clients on how to avoid these attacks? Check our video: How Easy You are to Hack.