Use the ALTA Registry as a Wire Fraud Countermeasure

A common threat seen in the news lately are wire fraud scams targeting real estate transactions - scammers using fake emails are redirecting wire transfers and stealing funds. Whether these scammers try to hook their prey by phone or email, they do their homework and appear very convincing.

For example, what would happen if your loan processor received an urgent email requesting to change funding details on the day of closing? The request appears to be from the title or settlement agent closing the loan. The email looks legitimate: correct logo, agent’s full name and contact details, the accurate loan number and the borrower’s name is correct. Even a phone number is provided to confirm the last-minute change.

However, the email is actually a scam! The seemingly correct phone number can route directly to the wire fraud criminal.

Rely on the ALTA Registry to get the right identity from the right people.