Real Estate, Technology and the Internet of Things
ABC Denver 7 recently reported a story about a family victimized by wire fraud and scammed out of $272,000. James and Candace Butcher sold their home in Longmont, CO and planned to use the proceeds as a down payment on their new home. The couple was informed by the real estate agent that they would receive wiring instructions prior to the closing. They received the…
Online criminals are targeting the real estate industry. In fact, they consider the industry to be low-hanging fruit. I recently contributed a few best practices on how to protect yourself against wire fraud scams and other cybercrime in the Inman News piece, “Scam steals closing money by hacking agent, escrow email.” Let’s examine the crime a bit more closely. A real estate transaction includes a substantial…