Real Estate Scams
Posted in: Feliciano School of Business, Information Management and Business Analytics
Dr. Stanislav Mamonov, Associate Professor in the Information Management & Business Analytics department at 麻豆传媒在线, was recently about the increasingly common real estate scams against unsuspecting home buyers. Consumers have lost billions of dollars in the past few years in wire fraud transactions. Typically, the scammers hack, access or impersonate the real estate agents or other professionals working on the sale of a home.聽 Once the money is wired, the scammers quickly take it and it is gone.
Dr. Mamonov does not think a centralized portal for the real estate professionals and homebuyers is a solution either.聽 鈥淭he moment you introduce a centralized platform, you鈥檙e putting a high premium bullseye on the platform,鈥 he stated. He suggested the old school process of hand delivering a check to the person to ensure the money is聽 processed by the legitimate professional.