Why KHS Title Company partner with CertifID CertifID is the nation's leading wire fraud prevention solution.

AUSTIN, Texas TAMPA, Fla.--(BUSINESS WIRE)--CertifID, a leading wire fraud protection company, today announced a new strategic agreement with Old Republic Title to prevent mortgage payoff fraud in the title industry. Fraud has become an increasing source of loss in the real estate sector, reaching $446M in a recent FBI public service announcement. About 17% of title companies have sent money to an incorrect account due to fraud, and 49% of those organizations have done so more than once, according to a study by the American Land Title Association (ALTA). Additionally, less than half of title companies have adopted the industry best practice to use a wire verification service. Mortgage payoffs have become the largest source of loss for title and real estate law firms, due to their large transaction size at $247K in median loss, a complex lender landscape and lack of consistent use of technology. The new package offered by Old Republic Title and CertifID is designed to address this significant source of loss risk

CIBC Innovation Banking announced today that it has provided growth financing for wire fraud protection company CertifID, which will use the financing