Fraud claims and tips to prevent fraud


Chicago Title takes fraud seriously, and as your partners in the fight against fraud, below are some fraud claims that we have received in the past and some helpful tips to prevent fraud. 

The client was out of $200,000 when a firm’s email account was hacked, and it acted on a fraudulent request to redirect funds!

We strongly recommend that you:

  • Check email addresses on all material correspondence and match to the exact trusted email given in the client’s onboarding.
  • DO NOT accept an email to re-direct funds without the Law firm first making a call to a trusted phone number for the borrower.
  • Get verbal confirmation of specific details for the redirection of funds and ensure your lender is on side.

A lady refinanced her sister’s house for $250,000, and the money was lost! It turned out to be a case of identity theft!

  • A simple check of a government-issued ID is not enough to keep yourself from being embroiled in a fraud case.
  • Before investing your precious time in a file for a non-client, authenticate their identity with Chicago Title’s Identity Verification Service.

An innocent business owner is embroiled in a $1,500,000 mortgage fraud. The law firm is under investigation for its business practices as fraudsters preyed on the firm’s lack of attention to detail and weak security measures.

We strongly recommend that you:

  • Change your password monthly.
  • Utilize two-step authentication services for an extra layer of protection.

Over a million dollars gone in a fraudulent sale!  How confident are you in handing over a million dollars to a non-client who has come to you to act on the sale of their home, which is mortgage free? The cost of being drawn into a fraud is your time and self-confidence.

We strongly recommend that you:

  • Do not trust someone just because your client refers them to you.
  • Use Chicago Title’s ID verification service when acting for a non-client.

A firm redirected $700,000 into a fraudster’s account instead of the homeowner’s account because of a phishing attack. The law clerk clicked on an email link which download spyware onto the firm’s computer. 

We strongly recommend that you:

  • Check your junk mail daily and investigate why items are there.
  • Use two-step authentication to improve your security.
  • Verify the sender’s email address and do not click on links or attachments in unsolicited emails.

Additional Useful resources:

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