The co-founder and CEO of CertifID has released a new eBook designed to teach business owners and consumers how wire fraud scams work and the simple steps to achieve a high level of protection.
In “Clear to Close: The Complete Guide to Understanding and Preventing Real Estate Wire Fraud ,” Thomas Cronkright details how the real estate sector has become a prime target for cyber perpetrators, and everyone in a transaction, from the buyer, seller, bank to the title agency, is at risk.
“Real estate is a $33 trillion industry, which makes it the hottest market for fraud, and because the transactions can be so large, scammers only need one or two successes to earn significant amounts of money,” Cronkright said in a release. “Prevention starts with protection, and in my new eBook, I outline the simple steps that banks, title companies, and individuals can take to stop fraudsters before they can even come close to a transaction.”
Among other things, the book explains how wire fraud affects all parties in a transaction, questions that need to be answered to determine if your insurance covers you, and how to recover if a wire fraud occurs.
“Wire fraud remains a significant concern in real estate transactions and committing to education and adopting preventative measures is the best way to drastically eliminate risk, exposure and protect the business and customers from loss,” ALTA President Cynthia Blair said. “This eBook is the first of its kind in the industry and serves as an example of the type of information that should be shared with all parties in a real estate transaction.”