IPX1031 Insight Blog

1031 Cybercrime

Nationwide, fraud and cybercrime continue to escalate. In our recent research, Americans shared that 1 in 3 have been victims of identity theft and 55% have been victims of scams. Unfortunately, incidents are trending upward, which is impacting commercial real estate transactions including 1031 Exchanges. Technology and tactics used by cybercriminals to access financial, corporate and personal data, particularly relating to real estate transactions, continues to evolve. Bottom line, any of your data and transactions may be at risk.

Many individuals and businesses underestimate the threat online fraud poses to their profitability, cash flow and reputation. Do not leave your data – and your profits – open to cyber criminals. Take a few simple steps towards keeping your computers, your information and business secure. Reduce your vulnerability and you reduce your threat.

Tips on Staying Protected from Scams

A Qualified Intermediary (QI) holds your funds during the 1031 Exchange. However surprisingly, there are no Federal requirements regarding the security that QIs have in place for the monies they are holding for their customers.  With IPX1031 as your QI, rest assured that protective measures are in place to safeguard your real estate funds:

Safeguard Your Real Estate Funds with IPX1031

    • Security measures: IPX1031 implements a number of security measures, including the use of a secure electronic document-signing platform, to help eliminate potential fraudulent activity from those involved in an exchange transaction.
    • Financial AssuranceIPX1031 is a Fidelity National Financial company (NYSE:FNF). As part of a Fortune 500 Company, IPX1031 provides sophisticated technologies to protect your funds that are backed by a 100 Million dollar Fidelity Bond and a separate 50 Million dollar Written Performance Guaranty. Click here to see our full umbrella of coverage.

Cybercrime is evolving and will continue to be an ongoing threat. Ask your QI about their cybercrime prevention policies and vigilance to secure all of their customers’ Exchange funds. Your funds depend on it.

Read More Stories

Cyber Fraud – an Emerging and Worsening Threat
Are Cybercriminals Targeting Your 1031 Funds?
Scam Struggle: 1 in 3 Americans Victims of Identity Theft  
Fraud and Identity Theft: Cities and States Hit Hardest by Scams 
Your 1031 Funds Are Safe
Simple Steps to Boost Your CyberSecurity
Safety and Security for Exchangers
FTC’s Online Privacy and Security page
The FBI’s “Addressing Threats to the Nation’s Cybersecurity” brochure
USA.gov Online Security and Safety
Symantec’s How to Protect Yourself Against Cybercrime

Locate a 1031 Expert In Your Area

Recent Posts

The Build to Suit Exchange

The build-to-suit exchange, also referred to as a construction or improvement exchange, gives the Exchanger the opportunity to use all or part of the exchange funds for construction, renovations or new improvements to the Replacement Property.

1031 Update on Capitol Hill – March 2024

Biden Releases FY2025 Budget Proposal March 14, 2024 Consistent with its prior budget proposals, the Biden Administration has proposed capping the gain that can be deferred through a like kind exchange at $500,000 per taxpayer ($1,000,000 for a married couple filing...

Be Prepared If Your 1031 Transaction Needs to Go in Reverse

1031 Exchange transactions continue to be on the rise. What’s also trending is the need for Reverse Exchanges. With limited available inventory and the need to secure your ideal Replacement Property, you may find yourself in a situation where a Reverse Exchange is...

Pin It on Pinterest