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FBI Warns Homebuyers of Growing Threat
Reports show over 500% increase in real estate internet crime from 2016 to 2017
Cybercrime often brings to mind the image of a hacker huddled over a computer in a dark room, breaching the security of huge companies like Equifax, or even the IRS. But one of the fastest growing categories of internet crime, the FBI warns, involves real estate transactions.
According to data provided by the FBI, in fiscal year 2017, almost $1 billion was “diverted or attempted to be diverted” from real estate purchase transactions and wired to “criminally controlled” accounts. That figure is up explosively from 2016, when the FBI counted $19 million in wire-transfer frauds affecting home buyers.
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Our local Quality of Life community activities include:
- Adopt-A-Family Xmas donations
- Highway 93 section cleanup twice yearly
- SAFE
- Special Olympics
Enhancing daily living by supporting individuals and activities in our community.
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The National Association of REALTORS® (NAR) worked throughout the tax reform process to preserve the existing tax benefits of homeownership and real estate investment, as well to insure as many real estate professionals as possible would benefit from proposed tax cuts. Many of the changes reflected in the final bill were the result of the engagement of NAR and its members, not only in the last three months, but over several years.
Read more: The Tax Cuts and Jobs Act - What it Means for Homeowners and Real Estate Professionals