Let’s Talk About Wire Fraud

Lets talk about wire fraude
Let’s talk about wire fraud! Well, hopefully, you’ve already had plenty of conversations about this subject with your buyers, sellers and transactional partners. However, this post is specifically on how Founders Title helps reduce the threat of fraud for you.
In addition to talking about the threat of cybercriminals with anyone who will listen, we’re also proud to say we partner with the company with CertifID to add another layer of security for the wire transfers involved in closing deals.
This company, started by Tom Conkright, a title company owner over in Michigan, is one of the best tools on the market when it comes to cybersecurity and preventing wire fraud. For what it’s worth, Tom is also a frequent presenter on this topic and has been quoted in news stories across the country for his expertise. It’s far from the only measure we’ve taken in this realm, but it’s certainly worth highlighting.
Learn how CertifID provides an extra layer of protection for your transactions, but here’s a synopsis of how this system works.
  • You get invited to a secure portal through email/text message
  • Requires validation of your identity
  • Securely sends you wiring instructions ( to buyers) OR securely provides your bank account number to us (from sellers)
The bottom line is fraudsters frequently target real estate deals by first hacking an unsecured email account and sending phony last-minute wiring instructions. But when you work with Founders Title, we’ve got you covered with this all-capital-letter warning. “DON’T TRUST ANY WIRING INFORMATION UNLESS IT COMES THROUGH CERTIFID.”