How to prevent seller impersonation fraud: A guide for title agencies

Today we published the findings of our work on Romance Fraud. ·      Online platforms have a critical role to play in preventing fraud and reducing harm. ·      Romance fraud can be difficult for banks and other payment firms to deal with. We’ve seen some going above and beyond to break the spell cast by fraudsters on unwitting victims. ·      We’ve also seen examples of some banks and other payment firms not doing enough to identify potential romance frauds and protect their customers. ·      The most effective way of preventing romance fraud is for all of us to be alert to the risk. Full details here: https://lnkd.in/eS2Rrfuc

FCA: COMBATING ROMANCE FRAUD – PREVENTION, DETECTION AND SUPPORTING VICTIMS On 17 October, the FCA in the UK published this review of 6 firms and how they detect and prevent romance fraud, and support victims. https://lnkd.in/eMMBxxxV

While you should leave ghost busting to the professionals, preventing fraud is something you can and should take action on and John Marshall Bank has plenty of tips to help you. Never give out your personal information to someone you don’t know, trust, and can’t verify, stay informed on current fraud trends, trust your gut, and much more. Scammers may not be made of slime or marshmallows, but with our tips you’ll be able to confidently say “I ain’t afraid of no scam.” Follow us at John Marshall Bank and visit the comments for all our scam busting fraud prevention tips. #localbusiness  #businessbanking #smallbusinessbanking #johnmarshallbank #communitybanking  #cybersecurtymonth2025 #fraud #fraudprevention #ghostbusters

Wire fraud prevention takes constant attention. At a previous company, Brett saw even the “gold standard” callback process fail when one small exception slipped through. That moment shaped how Brett thinks about security at Independence Title. Today, his team relies on systems that safeguard every transaction from the start. No judgment calls, no guesswork, no hoping for the best. The result: fraud gets caught earlier, staff can focus on closing, and customers move forward with confidence. Stronger verification stops fraud. Period.

📢 Anti-scam and fraud task force unveils first of its kind national #strategy Last week, the Aspen Institute unveiled the first coordinated national strategy to prevent #scams and combat #fraud with input from the private and public sectors. Despite an estimated 1 in 5 U.S. adults having lost money to online scams (leading to $158B in losses each year), the strategy is the first effort for a national plan with the goal to "deter criminals, disrupt scams in real time, and restore consumer trust in America’s financial, digital, and communications systems." Key recommendations from the task force include: 1️⃣ Congress and the White House should declare scam prevention a national priority. 2️⃣ Companies should work to strengthen system defenses and bolster #informationsharing across sectors. 3️⃣ Law enforcement should expand capabilities to recover assets, expand anti-scam intelligence capabilities, and coordinate across jurisdictions. 🔗National Strategy: https://lnkd.in/eCUqwgMC 🔗 Press release: https://lnkd.in/ePmhUmdZ

This year, it feels like we hear about a new deepfake every day. From “Brad Pitt” in the hospital to criminals posing as bank customer service reps, these scams may sound outlandish, but they are very real and terrifying when you are the one being victimized. We wanted to better understand this trend at Alloy which is why we’re publishing our inaugural State of Scams Report today. For our annual State of Fraud reports, we survey bankers, but this time we wanted to get the consumer perspective on both scams and how these individuals expect their banks to respond. Some of the results were sobering: 1 in 5 customers who experienced a scam reported losing $5,000 or more. However, there’s also a lot of opportunity here for banks that can act as a partner to their customers in preventing scams. Customers ranked fraud prevention and security measures as their most important factor when deciding where to bank. 85% said they would be more likely to bank with an You can read the full report here, and reach out to me if you want to discuss more! https://lnkd.in/gPAnRYsX

NASTF News Alert: NASTF Helps Prevent Fraudulent Activity NASTF’s registry team recently identified attempts to create accounts and reconcile customer authorization forms using false information. The individuals involved have been tied to confirmed criminal activity, including auto theft. This event is a clear demonstration of NASTF’s commitment to preventing fraud, protecting its systems, safeguarding vehicle owners, and upholding the integrity of the industry. NASTF commends the professionalism and diligence of qualified technicians who continue to uphold industry standards.

Earlier this year, we mapped where mail theft and stolen checks were most common. Now, new data confirms what many suspected, those same regions are leading the nation in check fraud. According to Visual Capitalist’s analysis, Delaware and South Dakota top the list for check fraud incidents per 100,000 residents, while states like Idaho and Wyoming remain on the low end. When comparing these findings to mail theft “hotspots,” the overlap is almost identical, showing how closely linked these crimes have become. The real takeaway? Check fraud continues to thrive in high-population and high-business-density areas. While some advocate for abandoning checks altogether, it’s not that simple. Nearly half of U.S. companies still rely on them, and replacing an entire payment channel would come with major operational and cost challenges. Instead, the answer lies in deploying the right technologies, ones that can reduce fraud attempts and losses to below 5%. Swipe through the carousel to see how states compare and read the full post for insights on how financial institutions can turn the tide against check fraud.

This morning I was just trying to buy a few Pokémon cards for my son… and somehow ended up in a two-hour fraud investigation — with my own bank. What followed was a mix of confusion, repeated hold messages, and more “thank-you-for-your-patience” than I actually had to give 😅 But what struck me wasn’t frustration - it was anxiety. Fraud prevention is meant to make us feel safe. Yet when the process itself creates doubt and fear, it defeats its purpose. Under the Consumer Duty, this is exactly where the real test lies: 🔹 Are we protecting customers and their confidence? 🔹 Are our messages clear, consistent, and reassuring? 🔹 Do our processes consider how it feels to be on the other end of the line? Because sometimes, even with the best intentions, the systems designed to protect customers can make them feel most vulnerable. How do we fix that? How do we make fraud prevention feel human again? #CustomerExperience #ConsumerDuty #Complaints #FinancialServices #Trust #SolvedByRav

Understanding Check Fraud: State-by-State Insights A recent visualization by Visual Capitalist highlights the prevalence of check fraud across the United States. Delaware stands out with the highest rate of check fraud incidents per 100,000 residents. Other states with significant rates include South Dakota, North Dakota, and Wyoming. 📌 Key Insights: - Check fraud remains a prevalent issue, even in the digital age. - Certain states experience higher rates of check fraud. - Implementing preventive measures can reduce the risk of falling victim. ✅ Recommended Actions: - Regularly review bank statements for discrepancies. - Utilize secure mailing options when sending checks. - Educate employees and individuals about the risks and prevention strategies. For a comprehensive state-by-state analysis, read the full article here: https://hubs.ly/Q03NM3kj0 #CheckFraud #FinancialSecurity #RiskManagement #FraudPrevention