The American Land Title Association (ALTA) has launched a campaign to help educate homebuyers and policymakers about the dangers of wire transfer fraud when closing on a new home or refinancing a mortgage.
“More than ever, cyber criminals look to take advantage of the uncertainty caused by the health crisis,” ALTA CEO Diane Tomb said in a release. “That is why it is so important that consumers work with professionals who can educate them on the signs of wire transfer fraud when purchasing a home or refinancing.”
“When making the most important financial decision of their lives, homebuyers cannot underestimate the importance of having a partner who has top-notch cyber protections in place,” she said.
ALTA said it hopes the campaign will drive awareness of this type of fraud among its members and homebuyers and renew their commitment to protecting sensitive information.