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Crystal Clear Title & Escrow Co.

$221M Lost to Wire Transfer Fraud in 2019

$221M Lost to Wire Transfer Fraud in 2019 Incidents and losses due to real estate wire fraud continue to increase, according to the FBI’s 2019 Internet Crime Report. The report shows there were 11,677 victims in 2019 with $221 million in losses. This compares to 11,300 reported victims and $150 million in losses [...]

2020-02-21T08:54:16-05:00February 21st, 2020|Industry News|

Realtor & Broker Liable for Wire Fraud

Kansas federal court upholds jury verdict that determined that a real estate licensee was 85% responsible for the buyer’s losses, which occurred when the buyer transferred purchase money to fake account after licensee allegedly forwarded email containing fake wiring instructions to the buyer. A real estate buyer (“Buyer”) purportedly received an email from the listing [...]

2018-10-24T10:19:12-04:00October 24th, 2018|Industry News|