Tag Archives: wire fraud

CertifID gets tougher on wire fraud with PayoffProtect

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The intent of CertifID’s new software is to fill a risk-gap in the payoff process between title companies and lenders. Cases have increased of criminals impersonating banks and mortgage lenders, requesting fraudulent payoff requests from title companies. Continue reading →

Massachusetts broker gets 2.5 years for $1.8M homebuyer scheme

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The U.S. District Court of Massachusetts sentenced broker Michael Flavin to 30 months in federal prison for manipulating homebuyers into signing $1.8 million in fraudulent contracts, according to The Real Deal on Sunday. Continue reading →

Paymints.io integrates into First American’s PRISM platform

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The move eliminates the need for paper checks by allowing title and real estate agents to request and receive electronic disbursement of earnest money and cash-to-close funds within the platform. Continue reading →

Homebuyers sue REX after losing $140K in wire fraud scam

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The complaint alleges negligence and breach of fiduciary duty after an unknown third party impersonated the brokerage’s title company and sent the buyers fraudulent wiring instructions. Continue reading →

The internet is a hotbed for criminal behavior

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It isn’t safe to be on the internet, but that is where business comes from these days. Broker Teresa Boardman offers warning signs to look out for and ideas for keeping yourself safer from online predators. Continue reading →

CertifID locks down $12.5M Series A funds for rising wire fraud battle

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A number of software companies have taken on the fight against real estate wire fraud, and with a fresh round of Series A funding to the tune of $12.5 million, technology CertifID is even more prepared for battle. Continue reading →

Payload Keybox secures seed funding in pursuit of $1B in transactions

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Payload’s functionality focuses on quickly and safely sending earnest money, broker invoices and any other form of transaction within the context of conducting real estate business. Continue reading →

Don’t sleep on the threat of real estate wire fraud

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A 2021 survey showed that 1 in 3 real estate transactions were targeted by cybercriminals. Real estate agents can no longer afford to ignore the threat or meet it with a one-line warning at the bottom of their email signature, says Rich Hopen. Continue reading →