Protecting Businesses and Consumers from Fraud

first_img After some high-profile ransomware incidents within the real estate industry, CoreLogic discussed how businesses can protect themselves from attacks. Ransomware, CoreLogic states, is a malware (malicious software) that encrypts the files on your network or otherwise blocks access to them. The attacker will prompt users to pay a ransom to access their files, but experts urge victims to not pay the ransom, as attackers may unencrypt or allow access to the files as a result.CoreLogic states that to avoid ransomware, companies need to train their employees to know how to identify phishing emails and refrain from clicking links from outside or unknown sources.The most important thing a company can do to limit the spread of ransomware between computers on their network is to properly use a firewall. A well-designed network will include a firewall which limits traffic between areas of different security sensitivity, and the firewall systems may be able to detect when malware tries to move from computer to computer through it.“For example, in the network pictured below, when someone brings an infected computer into the training room, the ransomware can be limited by the firewall so it doesn’t have access to any other part of the network.”Ransomware is not the only type of fraud impacting real estate professionals and consumers. According to the Coalition to Stop Real Estate Wire Fraud, real estate wire fraud is undergoing an epidemic. Real estate wire fraud is a sophisticated scam targeting individuals making wire transfer payments during the home buying process. FBI data reveals that 11,300 victims lost a combined $149 million due to real estate wire fraud in 2018 alone, representing a 166% increase in the total money lost compared to 2017.According to the FBI, only an estimated 12-15% of all fraud is reported, and the Coalition notes that the best way to combat these statistics is through educating the homebuyer. Homebuyers, particularly first-time buyers, are the ones who are the most at risk of wire transfer fraud. Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Protecting Businesses and Consumers from Fraud Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: How Fannie and Freddie are Preventing Foreclosure Next: Fannie Mae Announces Credit Insurance Risk Transfer Transactions The Week Ahead: Nearing the Forbearance Exit 2 days ago Protecting Businesses and Consumers from Fraud July 11, 2019 1,052 Views CoreLogic Fraud Malware Technology 2019-07-11 Seth Welborncenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News, Technology The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Tagged with: CoreLogic Fraud Malware Technology Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles  Print This Post About Author: Seth Welbornlast_img read more

What you can learn from Harvey Weinstein

first_img 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr As you’re drinking your morning coffee, looking out over your staff and wondering how to squeeze a few more basis points of profit out of your credit union, it may seem like you don’t have much to learn from the downfall of The Weinstein Company, but that’s wrong. This is one of the watershed moments in sexual harassment law, much like the Anita Hill/Clarence Thomas testimony that lead to an infusion of female politicians and an increased emphasis on sexual harassment litigation.The downfall of Weinstein and top executives at Fox News demonstrates that an environment that lets sexual harassment fester and go unchecked has the ability to take down a company. As a result, here are some key takeaways for Board Directors and top Executives: continue reading »last_img read more