What does wire fraud in a real estate transaction typically involve?
A buyer untruthfully claiming to have funds available
Cashier’s checks
Full cooperation of the title company
Intentionally misdirected down payment or closing funds
Martinique kept client data online, and the data was compromised, and her clients’ information ended up in the hands of cyber criminals. What’s true about this situation?
If the data was kept in a cloud, Martinique is in the clear.
Martinique can be fined, or lose her license if she failed to take adequate safety measures to protect her clients’ data.
Martinique faces a possible prison sentence.
Provided Martinique had anti-virus software, she’s in the clear.
Rayna is a new licensee who wants to be safe online. What advice should you give her?
“Avoid updating operating systems until 30 days has passed.”
“If you receive a suspicious email, don’t open it.”
“Save all email in perpetuity on your email server.”
“Use email attachments, rather than document transfer software, if the attachment contains sensitive data.”
What’s a community cloud?
One offered by a fraternal organization
One offered by a municipality or local government
One offered by a nonprofit
One shared by those with shared goals or interests
What’s one way experts recommend to protect email from hackers?
Avoid the use of symbols in a password.
Change your password at least annually.
Open, but don’t forward, suspicious emails.
Use a password of 26 characters or more.
Which of the following is true about digital attachments?
If they contain sensitive information, they should be sent by email rather than using a document sharing platform.
If you don’t recognize the sender, forward the email to your phone, and open it there.
Text attachments are usually safe.
You shouldn’t open links that are suspicious, even on a smart phone.
Why are real estate brokerages top targets for online scams?
The high dollar volume involved in real estate transactions
The limited reliance on online apps, storage, or tools
The low-tech nature of the industry
The notorious lack of cybersecurity measures
Buyer Jonas gets a call from someone telling him that there’s been a change in his closing process. He receives instructions to wire a payment to a specific account. What type of scam is this?
Phishing
Ransomware
Tech report
Wire fraud
What has Google enabled as a default security feature to make sure all data between your browser and Gmail are encrypted?
Anti-virus
HTTPS
Phishing
Two-step authentication
Based on level of security, how does cloud storage compare to enterprise storage?
Equally vulnerable to attack
Impenetrable
Less vulnerable to attack
More vulnerable to attack
What does a service level agreement do when working in a cloud environment?
Automates software applications
Defines what’s being provided
Discounts fees
Requires regular backups
Which of these is an example of real estate wire fraud?
Carmen writes a contract on a house and, before closing, assigns the contract to another buyer who will wire the purchase funds for the closing.
Frankie receives a wire transfer from the closing company for the proceeds of his home sale.
Jed’s lender wires the loan funds to the wrong closing company.
Smitty hacks into a closing company’s email account, monitoring messages to buyers, then fakes an email from the closing company with “new” wiring instructions.
What’s a best practice you should employ before jumping in to cloud computing?
Ask for admin privileges.
Encrypt data before uploading it.
Run a background check on cloud provider personnel.
Use a symbol in your password.
Of the following options, which is the most secure password?
*%$#@!
ABCD3FGH1
KingsCrossing123MainStreet3lephant
R3B3CC@
Which of the following statements about emails is TRUE?
Email should be used to store important communication.
Licensees should keep a copy of every email sent and received in the transaction file.
Two-step authentication is unnecessary.
When sensitive data is sent by email, you should include “https” in the subject line.
Which of the following describes a hybrid cloud?
It’s available to anyone with a password, individuals and large companies alike.
It’s proprietary architecture dedicated to a single organization.
It’s shared with more than one organization or consumers who have a shared goal or interest.
Some information is held within a cloud, but combined with exchange servers within a private company.
Which of the following is a recommended risk prevention measure for licensees?
Attach documents containing sensitive information to email rather than using a document sharing platform
Don’t keep backup copies of anything
Shred personally identifiable information when it’s no longer needed
Use email for document storage
What feature do subscription services such as Yesware, ContactMonkey, and Boomerang provide?
Anti-virus protection
Email archiving
Email tracking
Encryption