By Julio Vasquez, Marketing —
It is not very common to talk about mortgage fraud, and in situations when the US market is booming as it is now, it makes it even harder to see some of the issues going on. The new trend is called wire fraud or down payment wire fraud and as in most cases, involves identity theft to commit the crimes. People hack into email addresses to be able to pose as the parties involved in a real estate transaction. They then convince some other party involved to wire the down payment to a fraudulent bank account.
Are the parties involved protecting my information?
This makes you wonder how well you know the people you are working with, i.e. your mortgage lender, insurance people, real estate agent, title companies, etc. We have to understand that we share a plethora of sensitive information with those individuals. Another question to consider is how well are they protecting my information?
Converus can help
Converus is a great company that has been creating credibility assessment technology to make our world a safer place. Identification and documentation can be stolen, but it is our responsibility to make sure that we are protected. In a matter of three minutes, IdentityDetect would give those professionals the opportunity to spot a liar, and also to provide accurate information to those who are entitled to receive it.