ALTA Urges CFPB to Warn Consumers About Wire Fraud Schemes When Purchasing a Home
By Texas Land Title Association
April 4, 2017
In a letter, ALTA urged the CFPB to issue an alert warning consumers about wire fraud schemes attempting to steal funds for real estate closings.
The alert should provide tips on how consumers can protect themselves and questions to ask to help determine if real estate professionals have procedures in place to protect their money. ALTA has educated its members over the past few years about these wire fraud schemes, but the best defense is to inform consumers about the danger.
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