Are your escrow accounts secure?
You’ve been hearing a lot about it: cybercrime is at an all-time high. Every other week a title agent is victimized by cyber fraud or theft. It is running rampant in the title, mortgage and real estate industry.
Consider these stats:
- The fastest growing Real-Estate Cybercrime is wire fraud; 27% of all real-estate cybercrimes stemmed from wire fraud.
- Wire fraud in real-estate saw a significant increase from $19 million in 2016 to $969 million in 2017.
- In 2016, the FBI saw a 480% increase in wire fraud complaints over the previous year.
- With the majority of real-estate transactions occurring over email, the FBI has issued a warning BEC (Business Email Compromise) Scam; this means no transaction is safe without proper security measures.
Do you have he expertise to keep up with managing cyber fraud? Two-thirds of title agents believe that not enough is being done to protect escrow funds. Stop putting your reputation on the line and leaving your company at risk. Rest easy knowing your customers’ funds are safe, secure and protected with SafeValidation™ from Safe Escrow.
SOC 2 Type II Certification
We work hard to obtain an annual SOC2 Type II certification to insure our processes systemically and manually enforce control and best practice standards.