For more than a decade, the real estate industry has been a rich target for cybercriminals - and recent research reveals the trend has continued to increase.
Real estate transactions have become a prime target because they are highly lucrative. A down payment on a new home can be thousands, even millions of dollars. That amount of money gets passed from buyer to agent, and agent to seller, leaving many opportunities for fraudsters to intercept that money.
Data breaches put millions at risk each year. And while many victims are adults, it seems that no one is too young to become a victim of identity fraud.
According to a new study by Javelin Strategy & Research, over 1 million US children had their identities stolen in 2017 - resulting in $2.6 billion in fraud, with families paying over $540 million out of pocket.
Even worse, these attacks can occur before children even become active internet users. 66 percent of child identity fraud victims are younger than eight years old.
Tech support scams last year resulted in $15 million in losses, an increase of 86% over 2016, according to the FBI Internet Crime Complaint Center (IC3).
In 2017, IC3 received approximately 11,000 complaints related to tech support fraud. The claimed losses amounted to nearly $15 million. While a majority of tech support fraud involves victims in the United States, IC3 has received complaints from victims in 85 different countries.
Businesses reported all-time high levels of fraud, cyber and security incidents during 2017, according to senior corporate executives surveyed worldwide for the 2017/18 Kroll Annual Global Fraud & Risk Report.
About 84% of companies surveyed worldwide experienced a fraud incident in 2017, according to the report.
The proportion of executives reporting that their companies fell victim to at least one instance of fraud over the past 12 months increased to 84%, from 82% in the previous year. Levels of reported fraud have steadily risen every year since 2012, when the reported occurrence was just 61%.