From a DOJ press release: "Lender Processing Services Inc. (LPS), a publicly traded mortgage
servicing company based in Jacksonville, Fla., has agreed to pay $35
million in criminal penalties and forfeiture to address its
participation in a six-year scheme to prepare and file more than 1
million fraudulently signed and notarized mortgage-related documents
with property recorders’ offices throughout the United States."
The CEO of a subsudiary, DocX, pled guilty to criminal charges. You can read the whole release here.
Unfortunately, there is not just one answer that is the panacea that solves all ills,” Speare says. “It’s a balancing act, and it’s not a pure black and white line. There’s a lot of gray
Here is some tips for Prevention fraud..
Prevention Tips
Some of the most important steps to take to mitigate call center risks, experts say, are:
• Employee Education. Institutions that are going through conversions linked to mergers and acquisitions have to be vigilant to hammer home social engineering threats. Staff members in new or acquired departments, especially those that touch on customer and member verification and authentication, have to be informed of policies and procedures. “You have to be able to train your call center employees effectively about the types of questions they can and cannot answer,” McNelley says.
• Authentication. Call center and branch staff must consistently pose challenge-and-response questions. Know who calls you with http://callnotes.org
• Out-of-Band Verification. Certain types of transactions should be restricted or limited until authorized callbacks confirm the transaction or account change.
• Voice Biometrics. Though the technology, which detects voice patterns, is not perfect, it can provide an additional layer of user authentication.
The important point to remember is that socially engineered attacks depend on human manipulation. No one technology or solution is going to address all vulnerabilities.
“Unfortunately, there is not just one answer that is the panacea that solves all ills,” Speare says. “It’s a balancing act, and it’s not a pure black and white line. There’s a lot of gray.”