Riebling Insurance Provides Enhanced Wire Fraud Protection With CertifID
February 27, 2020
In an effort to combat the growing threat of wire fraud in real estate transactions, Riebling Insurance announced a new endorsement to its FNF-Pak insurance program that provide up to $500,000 for all inbound and outbound wire funds transfers with the use of CertifID.
CertifID helps prevent wire fraud through its identity confirmation and bank account credentialing solution. Riebling Insurance provides professional insurance coverage for Fidelity National Financial’s network of title agents across the country.
Beginning in February, Riebling Insurance will offer title agents of the FNF Family of Companies a new endorsement that includes higher coverage amounts for wire transfers.
“We are excited to provide enhanced protection for both incoming and outgoing wire funds transfers,” said Dan Riebling, president of Riebling Insurance Agency LLC. “The threat of wire fraud is not going away and title agents are searching for ways to mitigate the associated risks. CertifID’s technology platform and resources offering to title agents offers a significant step in this direction.”
The new coverage enhances Riebling Insurance’s FNF-Pak current offering to title agents. “We are committed to protecting our clients and as we put this program together with CertifID, our goal was to tangibly express our commitment to fighting back against fraud.” said Riebling.
CertifID protects wire funds transfers through its identity confirmation platform that allows parties in a transaction to send or confirm wiring instructions with trust. It also guarantees each wire up to $1 million after identities have been confirmed and wiring instructions securely shared. The platform leverages a multiple of layers of security including proprietary digital device analysis, knowledge-based authentication and multi-factor authentication.
“Riebling’s commitment to protect title agents and consumers involved in the home buying and selling process is a significant step forward,” said Tom Cronkright, CEO and co-founder of CertifID. “As a past victim of wire fraud, I know first-hand how devastating it can be on a personal and professional level. Cyber perpetrators continue to advance their social engineering and phishing strategies to trick people into wiring their life savings to fraudulent bank accounts. It’s time for everyone to lean further into this issue and increase the level of preparedness for all transaction participants—this new endorsement by Riebling adds yet another layer of protection for them.”
Contact ALTA at 202-296-3671 or communications@alta.org.