Webinar: Avoiding wire fraud in the mortgage closing process — consumerfinance.gov

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Wire Transfer Fraud continues to explode globally, with the real estate sector being one of the most targeted industries. According to the FBI, reported global losses over the past five years from wire fraud have exceeded $12.5 billion. This webinar explains how these schemes are carried out in the mortgage closing process, discusses recent reported frauds, provides examples of fraudulent emails, and shares red flags to spot fake emails. The presentation also provides best practices for consumers to protect their money and advice for what to do if they’ve been targeted by such a scam. This webinar was recorded in May 2019. The Consumer Financial Protection Bureau (CFPB), is a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly. Learn how the CFPB can help you at https://www.consumerfinance.gov/about-us/ Connect with us: https://www.consumerfinance.gov/ Twitter: https://twitter.com/CFPB Facebook: https://facebook.com/CFPB