Information Security and Wire Transfer Fraud are critical topics for the land title insurance and settlement industry. Wire Transfer Fraud is a threat to every title operation regardless of size, location or years in business. ALTA’s priority is helping you protect your systems, plan for a rapid response in case of an incident, and prepare your employees, clients and customers to be aware and vigilant.

The ALTA Board has identified information security and wire transfer fraud as a Strategic Priority and staff are working to educate members on security threats to their businesses in both cyber and physical environments, collaborate with coalition partners to raise consumer awareness about information security and wire transfer fraud, and promote best practices for protecting personal funds and information and seek policy change that will protect consumers.

Do You . . .

  • work in the land title insurance industry?
  • use a computer, tablet or smartphone?
  • talk and email with vendors, clients, customers and consumers?

ALTA Helps You

Tools You Can Use

Get The Facts

  • 2017 Internet Crime Report. Published by the FBI's Internet Crimes Complaint Center (IC3). Take 30 minutes to read this report and discover the trends in cyber crime, which impact more than 200,000 victims every year and result in losses topping $1 billion.

Establish and Maintain Operational Readiness

  • NEW ITEM: ALTA Outgoing Wire Preparation Checklist: Use this checklist as a best practice for verifying outgoing wire information.
  • ALTA Rapid Response Plan for Wire Fraud Incidents: The standard ALTA Rapid Response Plan for Wire Fraud Incidents has been developed by the ALTA Information Security Committee. Download and customize:
  • ALTA Best Practices. The third pillar of ALTA’s “Title Insurance and Settlement Company Best Practices” provides procedures that should be taken to protect non-public personal information (NPI).
  • Federal RequirementsGramm-Leach-Bliley Act (GLB): This regulation requires financial institutions—companies that offer consumers financial products or services like loans, financial or investment advice, or insurance—to explain their information-sharing practices to their customers and to safeguard sensitive data. These companies include title and settlement companies, as well as law firms.
  • State RequirementsForty-seven states, the District of Columbia, Guam, Puerto Rico and the Virgin Islands have enacted legislation requiring private, governmental or educational entities to notify individuals of security breaches of information involving personally identifiable information.

Promote Employee Awareness and Preparation

Title and settlement professionals are on the front line in the battle against wire transfer fraud. Use these tools to help prepare your employees:

Be a Leader for Clients & Consumers

ALTA has developed tools to help you educate consumers about the dangers of wire fraud.

  • ALTA Wire Fraud Video: This 2-minute video provides four tips on how consumers can protect their money and offers advice on what to do if they have been targeted by a scam. Link to this video from your website, include in your email or share on social media.
  • ALTA Wire Fraud Infographic: ALTA has produced this Rack Card explaining Wire Fraud. ALTA Members can brand the infographic with their own information at the ALTAprints website.
  • ALTA Wire Fraud PowerPoint for Consumer Education: (Member-only content) Use this presentation to educate consumers about the dangers of phishing emails and wire transfer fraud. The presentation provides information on what to do if you’ve fallen victim to a scam and also highlights 10 tips to prevent wire fraud.


Information Security Articles

Recent 2019 2018 2017 2016 2015 2014

Pass It On: Share What You Know and Stop Scams
November 21, 2019
Holidays often mean time with family and friends. If you’re looking for conversation starters that avoid tricky topics–like who should’ve won the World Series–why not chat about scams? Pass it On, an FTC education campaign, gives you new ways to talk about scams and how to prevent them. You can also take the opportunity to raise awareness about wire transfer fraud and mortgage closing scams. To help your family and friends learn more about how to prevent wire fraud, encourage them to check out the Coalition to Stop Real Estate Wire Fraud.
People are the Very First Element in a Pragmatic Cybersecurity Strategy
Help Net Security  |  November 3, 2019
Thirty-nine percent of cybersecurity and IT executives indicate their company is under-prepared to handle a data breach and 66 percent prefer negotiating with a used car salesperson over dealing with a breach, according to an Avertium survey.
Beware of Real Estate Cyberfraud
Topeka Capital-Journal  |  September 29, 2019
Although consumers have long been warned about online phishing schemes, a new type of cyberfraud targeting potential homeowners is on the rise, and it’s affecting Realtors, real estate brokers, title companies, closing attorneys, and homebuyers and sellers across the country at alarming rates. Join the Coalition to Stop Real Estate Wire Fraud and sign the petition in support of victims like these as well as the advocates working to help stop this type of cybercrime.
FFIEC Encourages Standardized Approach to Assessing Cybersecurity Preparedness
August 29, 2019
The Federal Financial Institutions Examination Council (FFIEC) says using a standardized approach to assess and improve cybersecurity preparedness is the best course to reduce risk.
Cryptocurrency Thefts, Scams, and Fraud Could Hit $4.3 Billion in 2019
Venture Beat  |  August 12, 2019  |  Dean Takahashi
Cryptocurrency thefts, scams, and fraud could hit $4.3 billion in 2019, according to a report by cryptocurrency intelligence firm CipherTrace, which previously reported Q1 fraud at about $1.2 billion. CipherTrace has now released its Q2 2019 Cryptocurrency Anti-Money Laundering Report, the latest comprehensive overview of major cryptocurrency thefts, scams, and fraud around the world.