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Escrow & Real Estate

RESPRO: How to Detect When Closing Funds Are About to Be Hijacked (Mis-Wired), A Technical Review

This is a technical webinar focusing on the real estate that will dissect the most prevalent processes that cybercriminals are using to lure home buyers, escrow agents, closing agents, real estate lawyers, title insurance agents, and others into sending closing funds to criminal accounts accidentally.

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This session sponsored by RESPRO® (the Real Estate Services Providers Council) and RPost is designed for operational, technology, security and risk executives at large and small firms, who would like to hear from industry practitioners their real-life experience combating this epidemic of cybercrime called Business Email Compromise and a main attack vector, Email Account Compromise, specifically targeting the integrated real estate sector and all those involved in closings.

These practitioners will expose the latest cybercriminal tactics, and the solutions that they are today employing to detect and pre-empt these cybercrimes in progress; before the steal.

The FBI reports that 2.7 billion dollars was mis-wired by businesspeople and home buyers in 2022, most of it irretrievably sent to offshore accounts. The US Secret Service reported that $150,000 was being mistakenly wired (a/k/a tricked into mis-wiring) to cybercriminal accounts every 37 seconds on average in the United States alone. And, both report that this cybercriminal trickery is accelerating and becoming ever-more sophisticated. And now, enter AI…

Summary of the Webinar

This is a must-join session, for those that would like to see, step-by-step, how these sophisticated email crimes unfold -- either attacking you (as a sender) or with consequence to you (as an email of yours is intercepted at your client or recipient and you are cut out of the ensuing back-and-forth, related to transaction closings).