Cyber Crime Update, New Defense for ATG GO Users

Wire fraud cost Americans billions of dollars in recent years and the threat continues to increase as cyber thieves grow in number and skill. In its Consumer Sentinal Network Data Book 2019, the Federal Trade Commission reported that crimes involving fraud have been rising steeply since 2001. In 2019, cybercrime losses were the highest on record. According to the FBI's 2019 Internet Crime Report:

Secure Wire Transfers
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After the seller's attorney securely submits wire information in ATG GO, CertifID contacts clients to verify and confirm, then authorizes ATG to transfer proceeds. Without the inherent risks of email communications, funds are more secure than ever. For more information, see Verify through CertifID and About ATG GO.

  • The FBI received more than 467,000 cybercrime complaints in 2019 with an estimated loss of $3.5 billion (more than the total for the previous five years).
  • Illinois is one of the top ten states for victims and total losses.
  • There were 11,677 victims of wire fraud in 2019 with $221 million in losses compared to 11,300 reported victims and $150 million in losses in 2018.

Fraudsters continue to identify and exploit weaknesses in the real estate process; once they steal the funds, it's almost impossible to get them back.

Ways to Fight Cyber Fraud

ATG is fighting back against fraud by protecting our agents, our customers, and our future. The best way to prevent wire theft is for your practice to use defensive procedures and systems.

We strongly urge you to take advantage of these ATG resources to help eliminate risk to you and your clients and recognize signs of a cyber attack:

ATG Agents: Additional Actions You can Take to Protect Clients' Funds

What to Do if it Happens to You

Speed is vital. There's a chance to recover stolen funds if you act fast:

  • Contact ATG as soon as you suspect a problem. Call us at 800.252.0402 and tell the operator you're reporting a cyber crime. The operator will connect you with an ATG employee who can help you.
  • Be ready with key details. The more information you can provide, the faster we can take action, especially if the operator has to take a message.

Thank you for your continuing support of ATG.

[Last update: 9-23-20]

Posted on: Fri, 09/18/2020 - 11:30am