The Coalition to Stop Real Estate Wire Fraud has announced that Beyond Computer Solutions has joined as the Coalition’s latest partner in the battle against mortgage closing scams and real estate wire fraud. Founded by the American Land Title Association, the Coalition provides education about the growing threat of these scams and offers tips to help consumers protect their money during the homebuying process.
Real estate wire fraud is a sophisticated scam targeting individuals or companies making or accepting wire transfer payments during the homebuying process. As a result, victims unknowingly send wire transfers to the accounts of criminals who are pretending to be real estate and title industry professionals involved in the transaction. FBI data show that in 2018, 11,300 victims in the United States lost nearly $150 million because of real estate wire fraud—a 166% increase in the total money lost compared with 2017. This is just the tip of the iceberg: The FBI estimates that only 12-15% of all wire fraud is reported.
“We are honored to be a technology partner with the Coalition to Stop Real Estate Wire Fraud. We are celebrating our 20th year providing IT solutions for the real estate law and title industry, and we offer Managed Detection and Response Cybersecurity as part of our solutions. Our uniquely skilled engineers will use the latest tools to detect threats before they become devastating breaches. Most importantly, we have cybersecurity professionals—real people who monitor these systems and respond when an incident occurs. We are committed to protecting the finances, the homeowner and the reputation of the industry professionals who are all involved in the real estate transaction.”
Businesses and organizations that have formed a partnership with the Coalition are committed to ensuring all parties in the homebuying process are protected from this cybercrime, which can strip consumers of their money, personal data and, in some cases, homes.
“We are glad Beyond Computer Solutions has joined the Coalition,” said ALTA CEO Diane Tomb. “As an IT solutions provider, they know more than most about the havoc cyber hackers and scammers can wreak on a business as well as the threat they pose to the financial health of potential homebuyers and the real estate industry. We are excited to have Beyond Computer Solutions involved and know they will make an impact.”
For more than 20 years, Beyond Computer Solutions has helped small businesses utilize the same IT services, technology and tools available to larger corporations by offering a flat rate for its IT solutions. The company operates on a set of core values to ensure employees and clients trust in their operations. The award-winning company is located in Atlanta.
Learn more about the Coalition at stopwirefraud.org.