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And keep in mind that if any
of you have ever received the notification from

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any entity, corporation, government agency
that your social Security number was compromised right

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leading to potential identity theft. And
generally when you received that notification, you

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are provided the option of receiving you
one or two years of free credit monitoring.

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You are also at risk for this
type of a scam. So criminals

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use the identity of the homeowner right
using your social Security number in many cases

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to sell this home posing as you
right from underneath you. You were listening

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00:00:42,600 --> 00:00:48,359
to Carrie Lets's Financial Survival Network where
you get valuable information you just can't find

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00:00:48,399 --> 00:00:54,479
anywhere else to thrive in today's trying
times. You need the Financial Survival Network

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00:00:54,799 --> 00:00:59,520
now more than ever. Go to
Financial Survival and Network dot com and get

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00:00:59,520 --> 00:01:08,359
your free newsletter and gift. Financial
Survival Network now more than ever, And

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welcome you are listening to watching the
Financial Survival Network. I'm your host,

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Carrie Lutz and hey, it's mid
August, and you know, just when

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you thought it was safe to go
outside, there's a new scam. And

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it used to be once upon a
time you couldn't steal a house. You

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couldn't steal land, you know,
things that were permanently affixed. Was very

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difficult. You couldn't just march off
with a house, I guess, unless

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you put it on a trailer and
slapped it away. But nowadays the biggest,

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one of the hottest new scams is
stealing land, and especially vacant land.

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Because it's vacant, nobody's checking it
out, nobody cares about it until

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you go to sell it and you
find out you don't own it anymore.

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I mean, it's really fascinating these
scammers. They are they're thinking of new

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things, new scams twenty four seven. And Robert Siciliana, who has spent

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a large part of his life breaking
these scams and informing you about them,

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is with us now, Robert,
it's great to have you back. So

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land scams. Who would have thought, yeah, so, you know,

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this particular scam is really nefarious due
to the fact that many municipalities throughout the

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country, right, so you have
your you know, states do things a

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certain way, and then you have
various municipalities statewide that might do things a

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bit differently. It's how they record
information, it's how they put it out

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there on the web. For anybody
to see. And then from there how

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anybody can access those documents, deeds, titles, and so forth and change

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them, manipulate them, claim them
as their own, and so on,

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either by stealing identities or simply by
saying that they purchased it. And throughout

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the country these scams are proliferating now. Certain municipalities have systems in place to

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alert their constituents that somebody has taken
out a deed, somebody has registered this

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land, somebody has made a sale
on this property, and so on,

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but many don't. And when you
see various services that might alert you on

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the side for like twenty five bucks
a month, like a whole title lock

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type of thing, they may or
may not even work in your state or

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in your municipality. So I think
it's important that you kind we kind of

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dig in a little bit understand what
these scams look like, what the right

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flags might be, and ultimately what
things you can and should be doing to

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reduce your risk. All right,
And as we're speaking, I just want

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you to know I've been meaning to
do this, and I'm so happy that

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we're connecting here because you made me
actually do it. I am on the

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Palm Beach County Clerk's office website,
and I am now signing up for a

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fraud alert for my house just in
case somebody tries to take out a mortgage

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or tries to sell it out from
underneath me. So Kerry, do me

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a favorite, like while you're there, kind of read through it out loud,

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like, let everybody know what that
looks like. It sounds like what

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it's warning you of. Okay.
Property fraud Alert Registration Property fraud Alert is

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an electronic notification service that alerts a
subscriber via email every time a land records

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document is recorded with the requested name, so they're not so much doing it

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by the address, but by your
name, so obviously in order, and

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that is effective because obviously for somebody
to steal my property, they got to

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convey it from me to a third
party. And then it's just putting in

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your email address and they want parcel
number, of course, which I have

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to go look up, so I
can't do this now. But you enter

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the address you want a monitor and
then and then you send a confirmation email

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and then you're set. I guess
now there's a couple of things about that

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that I want to point out.
So not every county is going to have

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that system in place, So it
depended where where you are listening audience,

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viewing audience, you may or may
not have that option. There may be

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third party subscriptions that you can pay
for a LifeLock, is it right,

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Yeah, exactly, So not every
municipality throughout the country has that service.

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Now, I think it's really important, like right now that you go online,

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any all of you to go online
and find out if in fact you

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have that option. Now, a
couple of things. Number one, what

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you want to make sure of is
that nobody can actually monitor your indeed your

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property in place of you, right, you know, like if somebody else

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out there poses as as as a
kerry that when it had signed themselves up,

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that they would get that suitation,
that's problematic. You want to do

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that before somebody else does it.
All of you if you have that option,

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yeah, yeah, yeah, yeah
yeah. I see your point.

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And maybe that's why you need a
third party service and you actually need to

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pay for it, because we know
that to govern mints are often very lackadaisical.

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But I didn't bother putting in the
legal description and whatever else they wanted

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a parcel number, but it's still
confirmed it and said that I am I

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am now protected, Robert, thanks
to you. Perfect. So let me

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define what a vacant land scam is. So it is an umbrella term that

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applies to any attempt to froudgling its
sell in real estate that the scammer does

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not own. So, while undeveloped
land is the most common focus of these

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scams, criminals may attempt to sell
residential or commercial buildings, condominiums, or

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homes. So it's not just the
vacant land, although vacant land is an

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attractive option. Scammers begin by researching
properties through public records, very simple to

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do because of course they are public. They first look for properties that are

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free of mortgages and leans, and
then they look for properties that are likely

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to be unoccupied, undeveloped and being
unoccupied empty. Long term rentals and out

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of season vacation vacation rentals are also
among the most pro popular for these types

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of scams. Yeah, So they're
looking for properties that you don't see every

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single day of the week, right, They're looking for you know, properties

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that will you know that are I
don't want to say neglected, because that

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is the wrong term for it,
but not monitored like you know, like

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a second home like. Yeah,
And keep in mind that if any of

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you have ever received the notification from
any entity, corporation, government agency,

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then your social Security number was compromised, right, leading to potential identity theft.

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And generally when you received that notification, you are provided the option of

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receiving you know, one or two
years of free credit monitoring. You are

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also at risk for this type of
a scam. So criminals use the identity

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of the homeowner right using your social
Security number in many cases to sell this

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home, posing as you right from
underneath you. Yeah, and being a

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recovering attorney, I can tell you
that you're generally your title insurance, which

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if you have a mortgage thanks require
you to ensure the title for unrecorded leans

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and judgments and other stuff that can
come up. You're not covered in your

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title insurance for this. Yeah.
And you would think, you know,

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spending you know, two or three
four thousand dollars for a title and shrugs

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policy, It would be I actually
invested in title and shrugs policy, you

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know, by default, when I
bought the house that I'm in right now

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years ago and within you know,
three or four years of purchasing the property,

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we had somebody that claimed adverse possession
over a portion of our properties that

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are covered that you were covered for. And man, I think that title

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insurance might have dropped. I mean, I know they dropped well into six

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figures. I don't know the exact
number. I know it was in excess

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of one hundred and twenty five thousand
dollars that final number was, but that

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was like the best two or three
four thousand dollars that I've ever spent in

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my entire life. And what you
need to do is title insurance claims,

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especially now that all of the court
records and land records and lean records have

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been digitized, are extraordinarily rare.
And when it's expensive property, the title

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insurance company will require you to have
a survey which can point out a potential

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adverse possession claim. And I've even
had it where they walk the property to

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see if there were any easements or
something that weren't recorded. But the number

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of claims is so rare, and
basically title insurance is a way to print

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money for these insurance companies. They're
multi billion dollar entities. They keep getting

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bigger and bigger and more and more
powerful, and the states require you to

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have title insurance, and the federal
government does. If you have a mortgage,

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the bank will not write you a
mortgage without title insurance. But all

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this is academic for property theft because
you're not covered for it because since any

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event that actually happened after you purchased
property, title insurance only covers you for

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claims that arose actually prior to you
purchasing the property, even though they might

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be pursued after you purchase it.
So basically, probably LifeLock in these companies

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will start ensuring you and ensuring title
once. Once this thing really takes off

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here, you know. There,
I think it was Bill O'Reilly was advertising

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a service to h that would monitor
the title of your home. It's a

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real concern, but it's easily provided
for. Yeah, you know, while

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we're talking about title and those organizations, you know, it brings up,

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uh mortgage closing, real estate fraud. So in addition to you know,

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vacant land scams. I have been
speaking quite a bit recently revolving around wire

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fraud as it pertains to mortgage closings, and we're seeing in a number of

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pockets of the country where criminals are
monitoring MLS transactions. They'll see that they'll

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they'll monitor the MLS transactions because a
they can log in due to the fact

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that they compromise say a real estate
agent's identity and they had of his or

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her user name and password for the
MLS, and so they're able to log

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into the MLS and they're able to
see all these various transactions and they know

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that particular closings are you under contract, houses are under contract. And what

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they do them is they will spend
time finding out who the seller is,

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finding out who the buyer is,
finding out of course, who the real

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estate agent is. And once they
know who the players are, they get

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inside the actual transaction, either by
phishing the real estate agent, so by

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phishing the real estate agent, then
get inside his or her email posing as

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Google for that matter, and they
get inside the email. Now they are

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inside the estate agents email using a
pass code, using it being their email

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address itself pass code whatever it was
that was phished through the scam that with

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the fish er, the the the
scammer was posing as Google. Once they're

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inside the email, now they monitor
all the scent and received emails and over

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time they begin to figure out,
Okay, this is the buyer, this

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is the seller, this is the
particular property. And now they see that

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the real estate agents communicating with the
buyer, and they will then communicate with

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the buyer, posing ads the real
estate agent right, and now they begin

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to tell and ask the buyer information
revolving around the closing and in order to

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speed up the transaction. Here are
wiring instructors closing and then it's gone.

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The buyer receiving a communication from the
real estate agent, thinking that it is

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the real estate agent, because well, it's the real estate agents email from

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an account, from an email address
that they've communicated with dozens of times over

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the past you know, month,
two months, three months, whatever,

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has no reason to believe that there's
anything you know, gammy going on because

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it's the real estate agents email.
It's a thread that they've seen before.

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The buyer then goes and performs the
duties based on the instructions that the real

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estate agent provided, and that dollar
amount could be anywhere from you know,

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ten thousand to a million dollars,
yeah, or no fortune. That's why

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these two title companies now actually calling
up confirming this stuff and confirming the wires

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and everything else, because they could
theoretically be left holding the bag. But

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the problem is is that that same
wire fraud may not go through. The

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title insurance company may have no idea
that this is happening, the real estate

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agent may have no idea that this
is happening. Any of the lawyers involved.

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Why I did this is happening because
it's all happening between either a compromise

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title companies email, a compromise lawyers
email, a compromised real estate agents email,

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and the buyer. And it's funny
because there's a realtor here in Palm

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Beach County that I work with on
occasion, and all of a sudden,

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I start getting texted from somebody who's
pretending to be the head of the agency,

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but I know that the language is
off, and I like call her

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up and I say, what's going
on here? I'm getting this. She

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says, yeah, we got somebody
poosing here, sending texts out, spoofing

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texts and spoof text or is a
dangerous poofed emails? Robert, You know,

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yeah, And that's easy to do
because right on your iPhone, right

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on your Android device, you can
get access to apps that will smoove the

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phone number in which you're calling from
to be any global extension, any phone

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number with an actualent tip of the
individual or name of the company, along

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with whatever that phone number might be. Caller ID spoofing is a common tactic

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the criminals use, and there are
a feed based services online in through the

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app stores to be illegal and the
telemarketing guys do this spoofing all the time.

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Oh gee, I got a area
code. It's right by mine the

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exchange. They must be in my
town. It must be somebody I know.

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You pick it up and then they're
pitching you. So you've got to

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be basically, don't answer any calls
if you don't know who it is,

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all right, because it's probably going
to be a scam or a telemarketer.

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And don't send any money out based
on a email without first doing a voice

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verification with the person you know.
Yeah. So the mortgage closing wire fraud

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scam is reaching billions of dollars a
year. Wow. And the basic tips

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that revolve around prevention basically end up
in the hands of the buyer because it's

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the buyer that holds the bag.
They're old in the money, so they're

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in and while title companies are real
estate agents and attorneys, they all have

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their due diligence that they need to
be performing. It's the buyer, It's

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you and I that are the potential
victims. It's our bank accounts that ultimately

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a compromise. So all of you
paying any attention any time in the course

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of your life going forward that you're
in the process of buying a property,

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and it means communicating with somebody on
the peripheral of a closing for a mortgage

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related transaction. Number One, simply
enough, never ever, ever wire money

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to any bank account unless you have
gone through every possible channel you can to

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determine it is a legit communication,
and that means calling every single person involved

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in the transaction to confirm the legitimacy
a of the request for a wire transfer

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and be to the designated account in
which that it is being sent to.

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It is under the control of all
of the professionals in which that you know,

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like and trust, and in some
cases I recommend going into the actual

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offices all those involved, meeting with
the people, the real estate agent,

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the title attorney, the lawyer,
whoever it might be the buyer the seller

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meeting in person, those who ultimately
benefit from those transactions, opposed to just

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communicating over the phone, just communicating
via email, actually meeting on site in

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parson, those transactions being done on
site. Listen, you know what is

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it Like thirty forty years ago,
mortgages weren't processed unless you're actually in person,

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out of say things and loan,
right yeah, right, Today they're

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done virtually digitally. No people ever, you know, see each other,

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touch each other, smell each other, nothing. It's all done completely anonymously

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across the country. That's dangerous and
it's ripe for fraud completely eight. And

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you know, in certain states,
like where you have attorney states, it's

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actually another layer of protection because then
the attorney gets the funds. It's up

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to him, he's ensured if he
screws up, hopefully, And you know,

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this is this is serious stuff here
we're talking about, you know,

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really serious. And I can't express
this boy even in an even in an

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attorney based state like Harre in Massachusetts
where I'm at again, like just because

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that's the case, and just because
that attorney if if he or she gets

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hoodwinked it's but it's the buyer ultimately, like if if if the bad guy

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skirts that closing attorney and goes directly
to the buyer, No, no insurance

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is going to fix that, you
know. So let's talk about the red

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flags. Are gotting a vacant land
scam and look for so a couple of

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things, things that you as a
as an attorney, as a buyer,

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as a seller, as a real
estate agent, whoever you are in the

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process. Things to look out for, Like the seller refuses to meet in

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person. Uh, this should always
be a red flag for any trains action.

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Scammers may claim to be too busy
or to be out of the country

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and will claim that they cannot attend
the closing. They'll also resist a video

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calls and prefer to communicate solely by
text or email. That's the same thing

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with like a romance scam, all
the same exact thing scams or all the

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rage, all the rage and the
pig butchering scam. Man, that is

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a huge one huge and it is
the exact Sammo. Right, you meeting

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with somebody online, communicate with them
male or female. GAO strength doesn't make

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a difference. You know, you
could even be chatting with them, you

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know, either via I AM or
even using an actual video call, right,

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and over time you get to know, like and trust that person.

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Heck, you might even be engaging
in some virtual sex with this person over

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I avoid that at all costs.
But yeah, in over time, you

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beginning to actually develop rail feelings with
this person, right for for numerous reasons.

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That's called I've got fishing exactly.
And once they try and start talking

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about hey, all in, by
the way, I'm making a ton of

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money in crypto. Yeah, you
have a bond with this person, Okay,

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and they may turn you on to
a legit website where you can actually

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invest some money in. And when
I say legit website, like it's a

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fully functional website and it looks like
you're making money. But yes, all

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on your money. This is happening
like all over the world. One other

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scam that we're going to cover next
time, Robert, when we have you

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on next month, business loan scams, all right. I had a member

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of the community asked me about them, and I made the mistake of like

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signing up for one with my phone
number. I have gotten probably several thousand

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calls in the past two years.
Oh man, I couldn't even believe it.

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And I was like, I was
never going to take out these loans.

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I was just exploring it to pass
it on. I did a piece

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about it. But you know,
they're proliferated and they're just legal loan sharks.

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The ones that are real. They
get like twenty five percent a week

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interest with the vig you know.
Yeah, and they have you on what

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they consider is their sucker list.
Obviously you're heads above the rest. But

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yeah, it's unfortunate because now your
your phone's you know, flung. I

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can't get rid of them. You
know, I cannot get rid of them.

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So hey, Robert, where do
we find you? How do we

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connect with you on the web?
So I am a few different spots.

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You know, Robert Ciciliano. You
just google Robert Ciciliano roberts in the showt

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00:24:48,519 --> 00:24:52,000
com. Yeah, that'll be in
the notes. Also, you could see

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00:24:52,000 --> 00:25:00,400
you online at protect now LLC dot
com, protect now llc dot com or

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00:25:00,519 --> 00:25:03,680
Robert Sileano dot com. All right, and in the show notes. Hey

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00:25:03,680 --> 00:25:08,039
you've got a question for Robert myself, email k l at carry Lutz dot

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00:25:08,039 --> 00:25:12,519
com. We'll get you an answer
and while you're on the site Financial Survival

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00:25:12,599 --> 00:25:17,079
Network dot com. In the show
notes, you'll find the link to Robert's

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00:25:17,119 --> 00:25:21,200
sites and sign up for your free
newsletter. Robert always a pleasure. Thanks

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00:25:21,240 --> 00:25:25,920
for stopping by, HEK youbody appreciate
you. Thanks for listening to carry Lutz's

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00:25:25,920 --> 00:25:30,559
Financial Survival Network, your solution to
today's trying times. For the latest,

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00:25:30,640 --> 00:25:37,279
go to Financial Survival Network dot com. Financial Survival Network now more than ever,