Tag: fraud

The term "catfish" comes from the 2010 movie in which a young New Yorker named Nev Schulman has an online relationship with a woman on Facebook. Turns out the woman fabricated her entire life on the social network, and when Nev finally made plans to meet her in real life, he realized that everything she told him was a lie.

Notre Dame football star Manti Te'o had a similar online relationship with what he thought was a 22-year-old woman named Lennay Kekua.

Buying or selling a car is a big transaction—so scammers and thieves have come up with elaborate ways to exploit the process. Here are some of the most common schemes and techniques to watch out for, and the best ways to protect yourself.

Title Washing

You may have heard the phrase "clean title" when referring to buying a used car. It’s a good thing—by clean, it means the car doesn’t have a "salvage title," which in most states has a stamp indicating salvage status.

Now that the housing market is robust again in most geographies, it’s time to revisit the facts about mortgage fraud to help you be more aware as you consider the purchase of your next home. The FBI defines mortgage fraud as "a material misstatement, misrepresentation, or omission relied upon by an underwriter or lender to fund, purchase, or insure a loan."