Scams Still On The Rise

Posted On: May 17, 2019

Recently, the Federal Bureau of Investigation (FBI) Internet Complaint Center (IC3) released its annual report on internet crime. In 2018 alone, a total of 351,936 complaints of internet crime were submitted. The claims stockpiled losses exceeding $2.7 billion. Of those crimes committed, 11,300 victims were from real estate scams. This caused $150 million in losses (Inman News). From year to year, the number of victims has increased by 17 percent. There were 9,645 real estate fraud victims in 2017. Now the biggest scare of all this is the money lost. The lost of dollars increased by 168 percent from 2017,…

Wire Fraud is on the Rise

Posted On: January 25, 2019

Scammers will do whatever it takes to get their hands on your hard earned money. For a scammer to trick individuals, they must first gain trust. However, why make you believe what they are selling when they can act like someone you know? Recently they have been doing just that, using emails disguised as coming from someone you are doing business with, and then following up with a text message from the same area code or close to yours, claiming to be the same individual. These numbers close to yours might make you want to answer the call or text,…

Property Management & Cybersecurity

Posted On: January 11, 2019

The thought of computer hackers being abundantly present is an often overlooked and frightening realization. Hackers have gotten so skilled at their craft that there are very few protections that they can not breach. It is crucial for real estate businesses to be aware of the possible detriment to the agency if there is a potential breach in security of its clients. Cybercriminals have been taking advantage that there is currently no federal law for real estate businesses to possess security measures to protect client information. As high as 50 percent of real estate companies admitted to not being adequately…

Top Florida Real Estate Stories of 2018

Posted On: January 4, 2019

SETCO stays on top of real estate stories and wants our clients to stay in the know as well. Florida Realtors website chose to cover some of the top stories of 2018. Being about anything from Hurricane Michael to cuts in business rent tax, these stories are ones to read. Hurricane Michael The Florida Realtors Disaster Relief Fund started accepting applications for aid and donations from Realtors throughout the state of Florida who wanted to help. Hurricane Michael has caused a significant change in the economy of the towns affected and will forever alter the realty in this area. Insurance…

How to Arm Yourself Against the Ever-Growing Issue of Wire Fraud

Posted On: September 28, 2018

Wire fraud in real estate is a fast-growing crime that is becoming more and more common every year. In 2017 alone, there was a reported $56 million in losses and 9,600 victims just from wire fraud in real estate deals. Here at Setco, we are dedicated to protecting our clients from wire fraud and any other cyber threats. We like to keep our clients aware of cyber crimes so that they can take the proper steps to protect themselves against these vicious crimes such as wire fraud. The most common type of fraud in real estate deals is the Business…