BuyerDocs Protects $6.3 Billion from Wire Fraud in 2018

April 30, 2019

BuyerDocs helped protect more than $6.3 billion from real estate wire transfer fraud in 2018.

The company reported that its secure portal was used in all 50 states and in 28 countries last year.

“We attribute much of our growth to title companies understanding that encrypted email is not sufficient enough to protect buyers from fraudulent wire instructions,” said Andy White, co-founder of BuyerDocs.

So far in 2019, buyers in every state except South Dakota and West Virginia have used the BuyerDocs system. Due to the popularity of its services and growth, BuyerDocs increased its insurance coverage to a $2 million policy. White said, “With our service expanding into all 50 states and numerous foreign countries, we recognized the need to increase our insurance coverage. With over $6 billion protected in 2018, we wanted to make sure our insurance coverage matched our customers’ usage.”

BuyerDocs is covered by an industry-leading cyber insurance policy to protect its customers and give them peace of mind while using its services. White added, “As we continue to grow through 2019 and beyond, we’ll make certain our insurance backs our expanded service offerings.”

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