When you close with True Title, you can be certain we will always handle your data securely.
Historically, not every party in a real estate transaction takes cybersecurity as seriously as we do. Wire fraud runs rampant in the real estate industry, likely surpassing $1.5 billion this year.
Here’s how it works.
A fraudster will watch MLS, Zillow, Trulia, or another listing website. They’ll wait to see a house under contract. When they do, they’ll scour the Internet for parties involved, looking for an account with a weak firewall. Then, the fraudster will hack into that person’s email account.
When the time is right, the fraudster will send false wiring instructions that look official. They can do this because they’ve been able to watch a poorly guarded email account: a buyer, seller, agent, lawyer, bank, or even another title company.
It happens.
But now, True Title clients can mitigate the risk of wire fraud thanks to our new partner, CertifID.
Your Security is Our Priority
CertifID (pronounced “Certified”) is our new secure system for requesting and receiving wire transfers. It’s incredibly easy to use and allows two parties to transfer money without worrying if a hacker is watching.
Using two-factor authentication, buyers and sellers login to True Title’s CertifID interface. They can pass information and transfer funds to each other knowing they’re working with the correct party.
CertifID:
- Has an incredibly easy-to-use interface.
- Takes no more than a few minutes to use.
- Analyzes devices for security breach before a transaction takes place.
- Confirms the identity of the party at login.
- Is guaranteed to be secure (though, yes, all parties involved should do their due diligence and make sure to follow wire fraud best practices).
- Was featured in the Wall Street Journal on August 15!
Transfer with Trust
Real estate wire fraud is on the rise. Don’t get caught off guard!
Insist on True Title. Schedule your next closing with us.
