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Panel warns of rising real‑estate fraud schemes; panelists urge identity proofing, public alerts and legislative fixes
Summary
A panel convened under Public Chapter 941 (Acts of 2024) testified on increasing real‑estate and deed‑theft fraud in Tennessee, urged stronger identity proofing for notaries and e‑filing vendors, recommended consumer disclosures about wire fraud risk, and described technology and insurance gaps that limit recovery.
TACIR heard a multi‑member panel detailing rising real‑estate fraud in Tennessee and nationally and received recommendations for administrative and legislative responses.
Panelists described the evolution of fraud from simple email compromises to sophisticated, tech‑enabled social engineering and forgery. Thomas Cronkwright (Certified ID) described business email compromise schemes that hijack transaction emails and wire instructions; he said losses tied to real estate wire fraud have risen materially and urged…
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