ALTA SPRINGBOARD: Identifying Fraud Trends

ALTA Board Governor Craig Haskins, CEO and President of Knight Barry Title Inc.; ALTA Member Tyler Newlon, Executive Vice President of Pioneer Title Agency Inc.; and ALTA Member Jeff Richardson, CIO of Shaddock National Holdings

Real estate wire fraud and seller impersonation fraud were on the top of the hit list during an Idea Festival at the 2024 ALTA SPRINGBOARD in Oklahoma City, Okla. ALTA Board Governor Craig Haskins, CEO and president of Knight Barry Title Inc.; Tyler Newlon, executive vice president of Pioneer Title Agency Inc.; and Jeff Richardson, CIO of Shaddock National Holdings, helped attendees understand what their businesses are up against during a panel on industry fraud trends.

“Fraudsters have gotten pretty impressive and brave,” Newlon said. “(My title insurance company) has seen every party in a real estate transaction participate in a seller impersonation fraud case from the notary on down.”

The best way to prevent real estate-related fraud is to get involved at the beginning of every transaction and communicate with all parties in the transaction, he noted. “Make sure you start early and communicate,” Newlon said.