The Allegiance Title team is dedicated to providing you with nothing short of remarkable security and convenience throughout the closing process. With wire fraud scams always a threat in the real estate industry, we know that safeguarding your transaction is more important than ever.
That’s why we’re excited to introduce you to our partner in fighting cybercrime: ClosingLock!
As we all know, wire fraud scams continue to be commonplace, with criminals utilizing sophisticated techniques to manipulate and direct closing funds to their own bank accounts. According to the FBI’s 2022 Internet Crime Report, there’s been a staggering 86% increase in financial losses within the real estate sector since 2020. And there are countless heartbreaking stories of regular people falling victim to these schemes.
Recognizing this fast-growing threat, we’ve joined forces with ClosingLock to provide you and your clients with an enhanced layer of protection.
What is ClosingLock?
Founded in 2017 by Abigail and Andy White, ClosingLock has already safeguarded over $100 billion in real estate funds. This innovative platform offers a secure and user-friendly experience tailored to the needs of law firms, financial services providers and title companies like us.
Why does it work?
- Secure Wiring Instructions: ClosingLock removes wiring instructions from vulnerable emails and stores them securely, beyond the reach of hackers.
- User-Friendly Portal: Buyers receive email notifications informing them that their wire transfer instructions are available. They can then access a secure portal using two-factor authentication via their mobile devices to retrieve these instructions.
- Seller Convenience: Sellers can also utilize the secure portal to securely send us their wiring instructions, streamlining the process for all parties involved.
- All-in-One Communication: Any stakeholders in the transaction can easily exchange instructions and personal documents, complete with legally binding electronic signatures.
Your Protection, Our Priority
At Allegiance Title, your protection is our top priority. We’re excited to offer ClosingLock as part of our commitment to safety. It’s all part of our goal to provide exceptional title and closing services with industry-leading security measures.
We’re thankful that the ClosingLock team is the expert in wire fraud – so we’re free to be the experts in title and closing. And we hope you’ll continue to trust in our expertise so that you can focus on what truly matters: your customers.
Contact us today to start your secure closing process or to learn more about how ClosingLock and Allegiance Title can enhance your operations. Your security and peace of mind are worth it!