Imagine the following scenario. Your client is preparing to send money to you for an upcoming transaction, so you send an email with the necessary wire transfer information. Later you find that the transaction has not yet gone through, and so you call your client. At the other end of the phone you imagine you hear a gulp before the client informs you, emotionally, that he transferred the money hours ago to the account clearly listed in your email. You and your client have been victims of a man-in-the-middle attack.
Up until now, title agencies and their business partners have been regarded as soft targets, particularly when it comes to the non-public personal information that flows back and forth between, agents, partners and clients. Consequently the Consumer Financial Protection Bureau (CFPB) has issued a set of rules that will become mandatory in August to protect sensitive information.
This Thursday, Neil Farquharson will be speaking at the American Land Title Association Business Strategies Conference in Philadelphia. During a one hour presentation, he will discuss email and data loss prevention solutions that will help make title and settlement companies compliant with the new rules. If you are unable to attend, please read our ebook Securing Emails in the Title Industry that you can download here.