Released: June 16, 2020

New coronavirus concern: digital real estate scams

Source: Louis Hansen - The Mercury News

The rise of virtual business — especially in real estate transactions — means convenience coupled with new risks. Real estate professionals say they are ever vigilant about wire fraud and criminal hacks, but it’s a growing problem.

The FBI estimated 11,300 people were victimized in online real estate schemes in 2018, a 17 percent jump from the previous year, according to the most recent data available. The losses totaled $150 million, primarily through hacks and fake or spoofed email schemes, the agency said.

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