In a typical case of wire fraud, the perpetrator’s access (whether by hacking or taking advantage of poor security) sensitive identity data in order to insert themselves in the communication chain in the guise of qualified parties to the transaction. In almost every case, the lender or another party unknowingly end up wiring the closing funds directly to the imposter or his/her agent. 

Every time, the lender or wiring party believes she is following the request or instruction of the authorized real estate agent, mortgage originator, closing agent or banker when, in reality, the e-mail or even phone call has come directly from the perpetrator.

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