Cloudstar has launched a fraud-prevention tool that sends custom tailored phishing emails to all parties in the real estate transaction, and then monitors the results, the company announced.
Cloudstar said its Mortgagephish quickly can identify employees that click on harmless simulated phishing emails and text messages, then target those individuals for online cybersecurity training, which the system also provides.
“It’s as real as it gets,” Cloudstar Senior Vice President Roland DuBeausaid in a release. “The difference is that we’re the good guys, and we’re here to train those working on the front lines; those in charge of protecting the homebuyer’s hard-earned money.”
Cloudstar said Mortgagephish produces trained and aware individuals who are the first line of defense against wire fraud, cyberattacks and ransomware.