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| Grace Chakos |
CHICAGO, IL, Feb. 24, 2022 — Chicago-based Landtrust Title Services today announced it has implemented ClosingLock, a web-based cybersecurity service, across all client transactions 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
the threat of wire transfer details being intercepted.
“We’re proud to integrate ClosingLock into our processes as a new safeguard to offer our clients peace of mind and security,” said Warren Habib, president of Landtrust Title Services.
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| Warren Habib |
“Since real estate transactions typically involve several parties, including Realtors, attorneys, lenders, buyers and sellers, there are multiple opportunities for scammers to infiltrate the process,” said Grace Chakos, senior vice president of operations at Landtrust Title Services.
“By incorporating the latest technology from ClosingLock to create an added layer of protection in wire transfers, we are giving our clients one more tool to assist them in protecting their funds.”
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| ClosingLock, a web-based cybersecurity service, to help prevent real estate wire fraud |
Cybercriminals stole over $200 million from more than 13,600 real estate fraud victims in 2020 through the use of deceptive phone calls, letters, emails, web links and attachments that directed closing funds to incorrect bank accounts, according to the FBI Internet Crime Complaint Center.
CONTACTS:
Rebecca Boykin, rboykin@taylorjohnson.com
(312) 267-4523
Jay Koziarz, jkoziarz@taylorjohnson.com
(312) 267-4526
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