An uptick in mortgage loan fraud.

Increasingly, cybercriminals’ spoof emails trying to trick real estate buyers into wiring funds into the hacker’s account. The fraud should put all organizations conducting mortgage loan transactions on the alert.

Wire fraud schemes, a typical method of attack, have accounted for $5 billion in financial losses to consumers since 2013, according to FBI statistics.

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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