Fidelity National Financial - Fraud Insights eNewsletter

By Lisa A. Tyler
National Escrow Administrator

Fraud and forgery has been rampant in L.A.:

In 2011, thirty–three percent of all Fidelity National Financial's (FNF) Fraud and Forgery claims closed in Los Angeles County, Calif.
A total of $20 million was paid out in Fraud and Forgery claims from transactions closed in the Los Angeles County area
Over the past three years more than $44 million was paid in Fraud and Forgery Claims from transactions closed in the Los Angeles County area

The story entitled "SPELLING counts!" is a perfect illustration of the type of crime experienced frequently by our title operations in the Los Angeles area.

Non–public personal information is defined as personally identifiable data such as information provided by a customer on a form or application, information about a customer's transaction or any other information about a customer which is otherwise unavailable to the general public. Non–public personal information includes first name or first initial and last name coupled with any of the following: social security number, driver's license number, state–issued ID number, credit card number, debit card number or other financial account numbers. Read the story entitled "FRONT porch" to discover how a signing agent compromised a borrower's non–public personal information on a recent refinance transaction – not once, but multiple times.

"BAD press" is a story about a former employee who made the choice to claim property escheated to various states in the name of the Company. It was within the scope of his job to do so, but instead of ensuring the funds were applied to the Company or their rightful owner, it is alleged he used the funds to cover his gambling debts!

This newsletter concentrates on fraud but there are many other crimes which can affect our readers. Be sure to read this month's "SAFETY CORNER" on "TRAVELING."