12/04/2021
A great read. Please be diligent and safe!
"Diverting seller proceeds and mortgage payoffs appear to be happening with more frequency in markets such as Michigan and Wisconsin where split closings are commonplace, according to Tom Cronkright, co-founder and CEO of CertifID."
🚨There has been an uptick in cybercriminals targeting split closings🚨 At Liberty Title, we take cybersecurity VERY seriously. From partnering with industry-leading cybersecurity tech companies to establishing very thorough internal procedures for protecting our clients' money, we do everything in our power to keep our customers (and their money!) safe. HOWEVER, we do not have control over what other title companies may do in terms of security. If you're involved in a split closing we recommend that you consider keeping your transaction to one company (both the buyer and seller side). If that's not impossible, we encourage you to take every step in your power to verify and confirm any banking information you receive (check out the handy graphic included in this post).
Questions? We're always hear to help! Reach out to us via our website or give us a call 855-343-8830. We're here to help keep you safe!
Check out the news bulletin from the American Land Title Association for more details on the dangers of split closings -->
https://www.alta.org/news/news.cfm?20211130-Split-Closings-New-Target-of-Wire-Fraud