1CE, BEC and Wire Fraud

Description

Wire fraud through Email Account Compromise, also known as hijacking, has become an epidemic. According to the FBI, it has occurred in all 50 states and 131 different countries. All parties to a real estate transaction are targeted in this fraud scam, with fraudsters gaining entry to e-mail communications and posing as parties to the transaction. Fraudsters electronically monitor real estate transactions and send timely fraudulent wire requests in efforts to divert funds to a fraudulent account.