Landtrust Title Services Adopts New Cybersecurity System to Protect Consumers from Real Estate Wire Fraud

 

 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.

Warren Habib

“With ClosingLock, Landtrust provides our clients an industry-leading solution for sharing transfer instructions and other sensitive documents with those involved in their closing, making it easy to securely get information where it needs to go and close on time.”

“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.”

 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 

 mylandtrust.com