As Thanksgiving approaches, we all reflect on the things we’re grateful for: family, friends and a roof over our heads. But for some aspiring homeowners, the dream of homeownership can be shattered by the reality of wire fraud.
We all know that wire fraud isn’t just a scary headline–-it’s a real threat that can cost your clients thousands of dollars.One in four consumers and businesses are targeted for wire fraud during a real estate transaction.In today’s high-tech world, cybercriminals are constantly evolving, preying on unsuspecting buyers and sellers.
That’s why Continental Title Company (CTC) is committed to safeguarding our customers. Our partnership with CertifID provides an extra layer of security for your closings, giving your clients plenty to be thankful for.
The Growing Threat of Wire Fraud
The numbers don’t lie. Cybercriminals continue to target real estate transactions. In October alone, CertifID’s Fraud Recovery Team tackled a record number of cases, with 43% targeting buyer cash-to-close transfers nationwide. They recovered $1.25 million in stolen money, showing how vital their work is in protecting buyers and sellers.
How CTC Safeguards Your Money
Our partnership with CertifID provides a financial safety net against fraud. Here’s how we protect clients using CertifID:
- Identity Verification: CertifID verifies the identities of all parties involved in the transaction, ensuring only authorized individuals have access to sensitive information.
- Encrypted Communication: To protect sensitive information, we use secure encryption protocols to safeguard all communications during transit.
- Real-Time Monitoring: CertifID keeps an eye on transactions in real-time, so we can step in quickly if something looks off.
During the past month alone, CertifID helped us:
- Protect almost $33 million in funds
- Save our team nearly 100 hours of manual work
- Successfully process hundreds of transactions
CTC’s Commitment to Your Security
To tackle this growing issue, we’ve put several measures in place, such as:
- Secure Wire Instructions: We use CertifID’s Send product to share wire instructions securely.
- Proactive Communication: We remind clients early and often that their wiring instructions will not change.
- Email Domain Verification: We strongly advise clients to verify email domains to prevent phishing attacks.
Why CTC is the Right Choice
When you work with CTC, you can trust that we put your clients’ security first. Our dedication to security, combined with CertifID’s cutting-edge technology, offers peace of mind for you and your clients. Contact us today to learn more about protecting your real estate transactions.