AmTrust Title Partners With CertifID to Help Prevent Wire Fraud for Agents
October 18, 2018
AmTrust Title announced a new partnership to cover the costs associated with the transactional use of CertifID’s wire fraud prevention platform for its network of title agents.
Amtrust Title will pay for the use of CertifID on all Amtrust-insured transactions. CertifID allows title agencies to securely send and confirm wiring instructions and guarantees each wire up to $1 million. The platform uses proprietary digital device analysis and knowledge-based authentication sequencing to verify the identity of both parties engaging in a wire transaction.
“After talking to title agents from around the country, we found that wire fraud is one of the biggest risks facing their operation today,” said Jason M. Gordon, president of AmTrust Title. “We are making a conscious decision to offer the use of CertifID to protect them and their customers from loss.”
AmTrust title agents will join with CertifID’s current client base to take advantage of streamlining the flow of wire information to their customers, without the need for additional usernames and passwords. It also eliminates the necessity for agents to make countless phone calls to validate wire information saving valuable processing time.
“AmTrust Title has just made it easier than ever for independent title agents to protect themselves,” said Tom Cronkright, CEO and co-founder of CertifID. “Unfortunately, the growth of wire fraud is outpacing industry awareness of this epidemic. When a leader like AmTrust Title makes this kind of statement, we’re taking a huge step in the right direction.”
Contact ALTA at 202-296-3671 or communications@alta.org.