Cybercriminals tried to scam title insurance employees into wiring funds to a fraudulent account in a third of all real estate and mortgage transactions, according to the results of the American Land Title Association’s (ALTA) 2021 Wire Fraud and Cyber Crime Survey.
However, the scams were successful in only a little over 8 percent of the attempts, according to the survey, indicating education and training are having a positive effect.
Read on for more from the survey.