in this issue

By Lisa A. Tyler
National Escrow Administrator

The Federal Trade Commission (FTC), banks and gift card companies nationwide are warning consumers of a new scam where an imposter contacts a consumer requesting they immediately go buy gift cards. The contact is initiated through either text messages, email or by telephone. Read all about this new scam in the article entitled "GIFT card scam."

So long as there are still people who do not know about the risks surrounding diverted wire transfers, we will keep talking about them. Hackers keep getting more and more creative. In "ANATOMY of an altered payoff demand" we compare a valid and altered payoff demand side–by–side to see how subtle the alterations can be.

A considerate title agent in Huntsville, Alabama, shared a story in order to make other title companies aware of a recent fraud attempt at his office. Nothing was lost (other than time), but the perpetrators are going to other offices trying to get their deal closed. Read the story entitled "FALSE pregnancy" to discover what happened.

Title insurance rates are usually a small percentage of the home's cost and they vary from one area to the next. In most areas, the premiums are filed with, and approved by, the State's Department of Insurance.

Some states may provide for discounts, if the principal or property qualifies for such a discount. Find out more by reading "HOW much does title insurance cost."


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