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Fighting Wire Fraud Starts Here
We take the fight against wire fraud very seriously here at Landmark Abstract. Here, we are fighting wire fraud with Closinglock. Closinglock is a company that provides a safe solution in this ongoing battle. It provides all parties involved a secure way to protect against wire fraud.
Key Points In This Post
Firstly, here are the key takeaways you’ll get when learning about how we are fighting wire fraud with Closinglock.
- Wire fraud is a costly and serious problem that could cost anyone involved in the transaction.
- Closinglock provides an easy to use portal for agents and consumers to use.
- Contact Landmark Abstract IMMEDIATELY at 717-293-9760 if you suspect fraud.
What is Wire Fraud?
Wire fraud is a way that cyber criminals target any participants in a real estate transaction to steal funds that transferred during a closing. Fraudsters hack emails, pretend they are your title company, and will even spoof your real estate agent. Their goal is to have to fund sent to a fraudulent bank account that they have access to.
The Price of Wire Fraud
Ultimately, wire fraud is COSTLY. In 2021 alone, wire fraud cost 13,638 victims $350 million. Landmark Abstract has a lot of information about preventing wire fraud. Click on the link to be taken a wealth of articles about wire fraud and cybersecurity. Also, education is the first step in preventing this expensive crime.
Closinglock Fights Wire Fraud.
Next, Landmark Abstract has chosen Closinglock to be our partner in the fight against wire fraud. Here’s why:
- Closinglock is a safe and secure way to transfer wiring instruction and documents.
- It’s easy to use for real estate agents and their clients.
Closinglock’s Process
Here’s how the process with Closinglock works:
- Consumers will receive a text/and or email notification that wire instructions are available.
- The recipient can use any Internet-connected device to securely log into Closinglock’s portal.
- Verified wire instructions can be then downloaded.
- Closinglock works with Plaid to send out real time notifications to those involved in the transaction.
What If You Receive Another Set of Instructions?
Secondly, we here at Landmark Abstract cannot stress this enough: we will never contact you directly to provide wiring instructions. If you, real estate agents and consumers, receive an email from someone claiming to be us with wiring instructions, please contact us IMMEDIATELY at 717-293-9760.
The first step in this fight is contacting us if you suspect wire fraud. Keeping silent if you do click on any attachments or follow through on the fraudulent instructions is dangerous. The sooner we know about the problem, the sooner it can be corrected.
Additional Information
Download this handout to learn about the Landmark Abstract’s fight against wire fraud with Closinglock. Agents, make multiple copies and give it out to your clients. The more everyone involved is educated, the better protections we all have. Also, again, we have an entire blog category here about cybersecurity and wire fraud.
Conclusion
To sum up, wire fraud is a serious crime. Landmark Abstract and Closinglock are ready to help you in this battle. Closinglock is a tool in our arsenal in the fight against wire fraud, and is our trusted partner.
Finally, please call 717-293-9760 is you have questions or concerns about wire fraud or Closinglock. If you liked this article, share it on social media by copying and pasting the link or by using the social share buttons at the bottom of the page.