Beware the Scams: Warnings to Heed; Resources to Help

This week's blog posting is all about cyber-fraud and cyber-security…..mostly. But before I get to Cyber-fraud stuff………

Dear Members,

This week's blog posting is all about cyber-fraud and cyber-security…..mostly. But before I get to Cyber-fraud stuff………

REMOTE ONLINE NOTARIZATION was signed into law by Governor DeSantis! We will soon be sending out information and resources for you and your staff so that you can understand this new way of handling the execution of documents and how you can take advantage of it! Stay tuned……...

Cyber fraud and other evils. This continues to be the scariest day to day threat you face. A little bit of paranoia around every email you receive is not a bad thing to have. I find the resources provided by a company called CertifID to be helpful. I have previously provided links to some of their free webinars and today the link is to a short publication on this topic, dealing with how the criminals "do the crime" and what you can do to avoid being a victim. There is also information on what to do if you (or a client) end up being scammed. Here is a link to the publication. https://www.thefund.com/information-center/pdf/security/certifid_ebook_clear_to_close.pdf

The other evil to mention is the scam is often attempted in connection with lender payoffs. The fraudsters have figured out a way to insert themselves in the communication chain and they pretend to be the lender, scamming you into wiring the loan payoff to them instead of the lender. YIKES! Here is a useful flyer for you to distribute to your staff….and anyone else that you think would benefit. http://www.thefund.com/information-center/pdf/security/ort-lender-scam-flyer.pdf

CFPB info re: closing scams. CFPB has some good stuff for consumers. They focus primarily on buyers, though, so the value to a seller is somewhat limited. But you should check out CFPB's blog posting about mortgage closing scams and their closing checklist. https://www.consumerfinance.gov/about-us/blog. It never hurts to see examples of checklists; you might pick up a few tidbits to incorporate in the resources you provide to your client!

Cyber-fraud/security Insurance. This is a very unscientific poll, but please email Michael Rothman at mrothman@thefund.com and tell him whether you have any type of insurance covering cyber-fraud incidents and, if you do not, whether you are interested in getting that type of coverage.

Browser upgrade. You will soon be getting an email from The Fund, informing you that if you are using an out-dated browser version (e.g., Internet Explorer 9 or older), your access to websites for The Fund and Old Republic Title will be restricted until you upgrade to a current version. The message will provide a link to allow you to verify whether your browser version is up to date. If you have any questions, please contact our Help Desk at (800) 421-9378.

Stay safe! Let me know how we can help you. 

 

Melissa Jay Murphy
Executive Vice President, Chief Legal Officer,
General Counsel and Secretary

06/12/2019