The threat of wire fraud is growing exponentially. Consider these staggering statistics involving Business E-mail Compromise (BEC) and E-mail Account Compromise (EAC) scams:

• $3 billion stolen from 41,000 U.S. victims between October 2013 and May 2018. FBI Public Service Announcement I-071218-PSA, July 12, 2018.
• $56 million stolen from 9,600 U.S. victims specifically via redirected real estate wire transfers in 2017. FBI Internet Crime Report, May 7, 2018.
• 1100% increase in scams targeting the real estate sector between 2015 and 2017 with an almost 2200% rise in the amount of money lost. FBI Public Service Announcement I-071218-PSA, July 12, 2018.

Fraudsters continue to identify and exploit weaknesses in the real estate process; once they steal the funds, it's almost impossible to get them back.

How ATG Agents Can Take Action to Protect Clients' Funds

Review ATG Resources and Recommendations

• Read ATG's post, Don't Fall Victim to Wire Fraud Schemes, to learn eight actions to protect yourself and your clients.
• Review our handouts, print copies for reference, and distribute to your staff:
  • Wire Fraud Alert — for realtors/consumers
  • Don't Fall Victim to Wire Fraud Schemes — for ATG agents

Watch Our OnDemand Program

Practical Ways to Protect against Fraud and Cyber Threats | Delve into fraud and cyber threats facing lawyers, title agents, and their clients, and learn practical safeguards against them. Who Should Attend: ATG member agents, Illinois and Wisconsin real estate attorneys, and their support staff. Learn more: Illinois (1.50 PR) or Wisconsin (1.50 CLE).

ATG Agents: Know What to Do if it Happens to You

Speed is vital. There's a chance to recover stolen funds if you act fast:

• Contact ATG as soon as you suspect a problem. Call us at 800.252.0402 and tell the operator you're reporting a cyber crime. The operator will connect you with an ATG employee who can help you.
• Be ready with key details. The more information you can provide, the faster we can take action, especially if the operator has to take a message.

Contact us (subject: Cyber Crime Questions) if you have any questions about protecting yourself from cyber fraud. Thank you for your continuing support of ATG.