In January, the American Land Title Association (ALTA) announced the publication of the ALTA Best Practices Framework ver. 4.0, with an effective date of May 23, 2023. The updates represent a much-needed fine-tuning of escrow and security processes in response to the increasing threats to consumers personal information, as well as wire fraud and other […]
The FBI released an updated report on business email compromise (BEC) to Congress last fall, and for the first time, specifically carved out their growing concerns about real estate wire fraud (REWF). The FBI’s focus is on the impact REWF is having on vulnerable homebuyers. “REWF is unique within BEC scams insofar as many times, […]
Cyber security is a layering process. Like a good latte, each ingredient is necessary to bring the whole to perfection. Years ago, it may have been sufficient to subscribe to anti-virus software alone, but in light of the growth in cybercrime targeting the real estate transaction, title companies have to up their cyber prevention game […]
