American Land Title Association’s Post

In this week's Enforcement Wrap-Out, our team discusses sentencing in a money laundering scheme, a romance scam, and an indictment against two individuals for loan fraud. Read our full summary.    Jacques Smith, Randall Brater, Mike Dearington, Nadia Patel, Rebecca Foreman, Shoshana Golden #EnforcementWrapUp #Investigations

1 in 8 UK people have admitted to committing one or more first party frauds in the last 12 months. That is a year-on-year increase since 2021, according to data we commissioned in collaboration with Opinion Matters And interestingly, nearly a quarter (24%) felt selling a vehicle privately that was subject to a finance agreement was ‘reasonable’ to do. Find out what the ‘most common’ frauds were, and more, via our exclusive with The Guardian & Observer. https://lnkd.in/eVz7wcTC #FraudBehaviours23 #Fraud #FirstPartyFraud #FraudPrevention #FraudAdvice #FraudTips

🚨 PSA real estate agents: Your customers are looking to you for warnings about wire fraud and other scams targeting real estate transactions, and they want to know more about protection, too! 🔒 Keep reading this article to learn more. #LSTclosings #closingdayatLST #keepingitlocal #LSTforELP #lonestartitleelpaso #elptx915 #itsallgoodep #thelocalbrand #lonestartitlecares #WeCloseTexas

What is Imposter Fraud? How to spot Imposter Fraud? The amount of money lost to this type of fraud against businesses is increasing at an alarming rate. Tips to avoid Imposter Fraud - very important read...

The victims of fraud can get restitution orders from the courts to recoup their losses, but it's up to the target of fraud to collect the money, not the state. The best protection against the long-lasting consequences of fraud is still prevention. That's why powerful, reliable ID verification technology is so important to high-value transactions like real estate. Read more:

Common Types of Fraud Insurance Fraud Insurance fraud involves individuals who make false claims to receive insurance money or insurance companies who refuse to honor legitimate claims. Corporate Fraud Corporate fraud includes issues like theft of information, compromised customer information, and a damaged reputation. Financial Fraud Tax evasion, public corruption, health care fraud, telemarketing fraud, and terrorist financing all fall under Financial Fraud. Identity Theft With identity theft, investigators will look for faulty loan or credit card applications, false withdrawals from bank accounts, dishonest use of calling cards, and using an alternate name to receive benefits. Internet Fraud Internet fraud occurs when criminals attempt to take advantage of victims via the internet. This includes theft of personal information or fraudulent transactions that result in the significant loss of money. Corporate Slip and Fall This type of fraud involves individuals who purposely organize a fall while inside a store in order to file a claim. They will go as far as to throw water on the floor in order to ensure a slip. Transit Fraud This kind of fraud occurs when passengers on buses, subways, or streetcars don’t remain seated or hold rails and fall when the vehicle stops. There are also cases in which individuals allow their feet to be run over or stand in the way of the mirror. Ticket Fraud With ticket fraud, a person will purchase tickets for a sporting event or concert that aren’t legitimate. Often these tickets have already been used or don’t exist. Mechanical Repair Fraud Often a mechanic will call for fixes that are overpriced or not necessary. Expense Claim Fraud When employees pocket runover business expenses they are committing fraud. Often, individuals will claim to stay in hotels costing $200 a night when in reality, they stay in cheap motels and keep the remainder of the money. Theft of Inventory With theft of inventory, investigators will look into whether employees steal products or order more than the store needs. Sometimes employees will claim products are expired when they aren’t so they can take the items home.

ComplyAdvantage's latest article provides an informative overview of the mechanics of title fraud, shedding light on the strategies utilised by individuals engaged in fraudulent activities. The article highlights the prevalence of forged documents and the alarming trend of impersonating property owners. Stay informed during #FraudAwarenessWeek by reading the full article.

From identity theft to romance scams, we are experiencing a worrying rise in online fraud. These schemes are growing more sophisticated, and it's important to understand not only how they work but also what to do if you become a victim. Senior Counsel Dr. Dr. Maria Schlüter provides insight into understanding scams are viewed under Thai laws as well as the available legal recourse for victims. Read the article here: https://lnkd.in/gC7ZdNuM #Scams #FinancialFraud #OnlineScams #ThailandLawyer #SMEs #Entrepreneurs

First party fraud is a growing problem and is becoming normalised. Our research shows that 12% of consumers admitted to committing some form of first party fraud in the last 12 months. What can be done about this from a fraud community and government level? Our CEO, Mike Haley, delves into how industry working together to share data and understanding at each stage of the fraud journey can help tackle this growing threat. https://lnkd.in/gUzzwHqU #FirstPartyFraud #Fraud #FraudAwareness #FraudPrevention #FraudBehaviours23 #EconomicCrime 

More Fraud Updates- these all go a long way to helping those who are victims of fraud, but did you know checking your Credit Report is a great first port of call to check for any potential fraud/misuse of your details and our Dark Web Scan can also help to check if your details have been used or are present on the dark web too!