Cyberawareness

Stewart Information Services Corp. and CertifID reported a significant reduction in wire fraud risk for the title company, homebuyers, sellers, and lenders because of their partnership.

The decrease occurred during a 64 percent year-over-year rise in overall cybercrime losses, according to the FBI Internet Crime Complaint Center.

Read on for more about the partnership.

Old Republic Title Insurance Group and ClosingLock are working together to help combat wire fraud for Old Republic’s agents.

ClosingLock provides a secure, easy-to-use platform for title companies, law firms and other financial services to protect themselves and their clients from wire fraud. The company has protected over $100 billion in real estate funds to date.

Read on for more.

SoftPro partnered with cybersecurity firm QOMPLX to release a cybersecurity solution for title companies.

SoftPro Protect includes managed detection and response services that provide firms with real-time threat detection, investigation, response, prevention, and reporting from both cybersecurity tools and security operations experts. SoftPro Protect also performs external scans to assess and analyze security vulnerabilities.

Read on for more.

Bank Shot is setting new cybersecurity standards in the industry for sending earnest money, down payments and other real estate funds, according to the company. It has partnered with Red Sentry, a testing tool that continually checks Bank Shot’s assets for vulnerabilities.

Read on for more.

The former assistant director of the FBI’s Cyber Division joined the Home Title Lock team as its senior cyber security adviser.

He will help the home title fraud detection service stop such cybercrimes and get the word out to consumers on what they can do to protect themselves from title theft scams.

Read on for more.

The American Land Title Association (ALTA) created a Cybersecurity Incident Response Plan template to help member companies develop a strategy to prepare for, identify, respond and recover from cybersecurity incidents.

The template is developed based on information from the National Institute of Standards and Technology, which has established guidelines to help companies protect themselves against cyber threats.

Read on for more.

Chicago-based Landtrust Title Services implemented web-based cybersecurity service ClosingLock as an added measure to prevent real estate wire fraud.

ClosingLock allows buyers, sellers and real estate professionals to safely access wire transfer information across a secure online portal with dual factor authentication, which reduces the threat of cybertheft and of transaction details being intercepted.

Read on for more.

 

SafeWire has launched a new podcast called “The Wire.” In each episode, CEO Chris Sauerzopf and Vice President of Sales Nicole Evans take a deep dive into the latest cybersecurity and wire fraud incidents hitting the title industry.

Their goal is to empower title companies to educate their clients and real estate business partners about cybercrime prevention.

Read on for more about the podcast.

In light of the recent Cloudstar ransomware attack, the Koogler Group is offering a free industry education bulletin on cyber awareness training.

Read on for more about the special edition.

Cloudstar is still working to get its cloud-hosting system back online after a July 16 ransomware attack. The company says it’s “too early to speculate” on whether there was a data breach.

Industry cybersecurity experts explain what happens during such attacks, what the far-reaching consequences might be and how title companies can protect themselves and their customers.

Read on for more.