CertifID Protects $1.2 Billion-Plus in Wire Transfers

Jan 18, 2019

CertifID has announced a key milestone. From late 2017 to December 2018, the system has protected more than $1.2 billion from wire fraud.

CertifID offers instant protection on money transfers by confirming the identities of both parties in a transaction. With a guarantee of up to $1 million on each deal, funds can be transferred with trust. The system has also stopped $40 million in high-risk wire transfers. In the same period, more than 40 communications devices from foreign nations have been identified. Many of these devices were attempting to circulate wiring instructions fraudulently.

“The numbers are clear,” said Thomas Cronkright, CertifID CEO and Co-Founder. “CertifID is an effective safeguard against wire fraud. Although the threat continues for any business using wire to transfer funds, these statistics show that there is a way to protect against it. Education, awareness and technology are the best lines of defense against the ever-growing threat of fraud.”

About the author

NationalMortgageProfessional.com

Link copied

Published

Jan 18, 2019

Operations

Wells Fargo Backs 3D-Printed Housing With New Financing Program

Qualified buyers can receive a 50-basis-point lender credit as the bank looks to support alternative housing construction

Wells Fargo is expanding its involvement in the 3D-printed housing sector, announcing it has been named a preferred home mortgage lender for ICON, a company specializing in advanced construction technology.Under the arrangement, qualified buyers who finance the purchase of a...

Non-QM

eRESI Rolls Out AI Guideline Search For Non-QM Lending

Correspondent sellers will receive complimentary access to Guideline Guru's platform, allowing real-time searches of eRESI underwriting guidelines and instant AI-generated answers

eRESI has partnered with Guideline Guru to provide correspondent clients with complimentary access to an artificial intelligence-powered tool that streamlines Non-QM guideline searches and accelerates loan decision-making.The partnership will make Guideline Guru available ac...