Lawsuit Provides Instructive Advice on Escrow Trust Account Security

August 28, 2014

A recent ruling against a title company is important to those who operate escrow trust accounts because unlike consumer accounts, banks have the ability to shift liability for fraudulent transfers out of a business account. Read on to learn why it's not only important to implement the proper network security, but why it's also vital to utilize all security processes offered by a bank and to encourage them to offer processes they may not currently provide, such as international wire transfer blocks.

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Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro is the nation's leading provider of real estate closing and title insurance software. With more than 14,000 customer sites and over 60,000 users nationwide, this award-winning software offers a suite of products designed to increase your volume and revenue by reducing the time it takes to do closings. SoftPro has been recognized by the American Business Awards every year since 2007 - winning awards for Superior Customer Service, Support and Product Development. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.