Mortgage industry professionals have been devoting increasing attention to the growing danger of wire fraud, as cybercriminals have been increasingly targeting the industry. With the real estate ecosystem attempting to put measures in place to keep up with these evasive fraudsters, there is a need to remain on the alert.

As reported by wire fraud prevention firm CertifID and the U.S. Secret Service in a recent study, cybercriminals are becoming more sophisticated in their strategies, relying on espionage tactics such as the use of malware, phishing campaigns, and also new and complex social engineering techniques. Making it far more challenging to detect fraudulent behavior. Consequently, we must remain vigilant and alert to new threats.

The most important elements of this text include:
• Wire fraud has been an increasingly pressing issue for the mortgage industry
• Cybercriminals have been targeting the industry with more advanced schemes
• New methods such as malware, phishing campaigns, and complex social engineering have been used
• The importance of remaining vigilant against these new threats

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