Cybersecurity

Question 1

Many industry experts recommend that title (settlement) agents block _____.

A. Wire transfers
B. ACH credit/debit transfers
C. Cashiers’ checks
D. Trust account funds

Answer 1

B. ACH credit/debit transfers

Question 2

Which of the following is NOT a Social Engineering tactic or technique used by criminals to psychologically manipulate and deceive individuals into divulging personal or confidential data?

A. Taking a position of authority
B. Playing on emotional needs or fears
C. Obtaining consent to email disclosures
D. Offering something to win or obtain for free

Answer 2

C. Obtaining consent to email disclosures

Question 3

Which of the following is NOT required for outbound wire transfers?

A. Initiator
B. Verifier
C. Recipient
D. Validator

Answer 3

C. Recipient

Question 4

Which of the following is NOT included in the recommended list of people for purposes of initiating wire transfers?

A. Initiator
B. Verifier
C. Perpetrator
D. Validator

Answer 4

C. Perpetrator

Question 5

A transaction where a Buyer receives an email with new wire transfer instructions from someone purporting to be the Title Agent, but the actual Title Agent did NOT send the email is known as:

A. Real Estate Intervention
B. Business Email Compromise
C. Mortgage Loan Exception
D. Business Enterprise Continuity

Answer 5

B. Business Email Compromise