Title Fraud and Cyber Security
Buying a new home is one of the most exciting experiences in most homeowners’ lives, and the last thing you want to think about is cyber security. But when you consider how much personal and financial information you share in the process of the transaction, and the amount of money being transferred, cyber security needs to be top of mind … especially when choosing a title company at the Lake of the Ozarks . For years, title companies have been responding to consumer demands for easier, faster, less cumbersome transactions. With technology, we can communicate faster, have fewer human errors and move towards paperless closings including the use of E-closings and online notarization. But these conveniences come with certain risks due to the sensitive information that is shared digitally. In fact, wire fraud and other email hacking schemes seem to be the biggest threats in real estate transactions today. Identity theft. How does home title fraud work? One wa...