Lawsuit Provides Instructive Advice on Escrow Trust Account Security

August 28, 2014

A recent ruling against a title company is important to those who operate escrow trust accounts because unlike consumer accounts, banks have the ability to shift liability for fraudulent transfers out of a business account. Read on to learn why it's not only important to implement the proper network security, but why it's also vital to utilize all security processes offered by a bank and to encourage them to offer processes they may not currently provide, such as international wire transfer blocks.

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SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.