FBI Report shows email fraud taking place through real estate transactions

A report by the FBI’s Internet Crime Complaint Center indicates the number of victims of email fraud involving real estate transactions rose more than 1,000 percent between 2015 to 2017 and losses rose more than 2,000 percent. Nearly 10,000 people reported being victims of this kind of fraud in 2017 with losses over $56 million. Real estate is just one segment of what the FBI calls “business email compromise” fraud which has resulted in approximately $12 billion in losses over the past five years. But for home buyers, the fraud can be particularly catastrophic. Click Hackers target real estate deals, with devastating impact to learn more about this epidemic problem and how to keep you and your family safe during real estate transactions.