Source: Realty Biz —
The American Land Title Association (ALTA) says that more than 11,600 people fell victim to real estate wire transfer fraud in 2019, resulting in more than $221 million being stolen. The scams involve huge amounts of money. The scams are sophisticated. People you would never think could be scammed are being caught up in these scams. Seldom is the money recovered once it is deposited in the wrong bank account.