Wire Fraud Mitigation
Real estate wire fraud is one of the fastest-growing cybercrimes in the country, often targeting unsuspecting buyers at the most vulnerable moment of their transaction. At Safe Harbor, our priority is your financial security.
When disbursing funds for a real estate transaction, Safe Harbor Title is often asked to wire funds. A few examples of wires we regularly make are:
- Loan payoffs
- Seller’s proceeds
- Real Estate Broker’s commissions
- Mortgage Broker’s commissions
- Qualified Intermediary (1031/Like Kind Exchanges)
To mitigate the rising risks of wire fraud, Safe Harbor Title has partnered with CertifID, the top-rated wire fraud protection software on the planet to securely receive and verify wire instructions and securely wire transfer funds.
How we verify wire instructions and securely wire funds with CERTIFID.
Step 1: The recipient receives our verification request
CertifID sends the account holder an email and text message requesting confirmation. The email clearly states what’s being verified and why.
The recipient sees an explanation: they need to securely confirm their bank details, and CertifID will verify their identity before confirming the banking information. This protects both parties from fraud.
Step 2: Device validation begins
When the recipient clicks the link, they’ll see a personalized greeting from Safe Harbor Title with a clear explanation of what’s happening. The system begins device validation with a loading screen showing “Securing connection…”
The platform checks for suspicious locations, VPN usage, and other fraud indicators automatically. The recipient then sees what to expect:
- Validate your device (using multi-factor authentication)
- Verify your identity (security questions)
- Confirm bank details (for the transaction)
Step 3: Phone verification
The system sends a security code to the recipient’s verified phone number. They can choose to receive it via text or call. After entering the 6-digit code, they continue to the next step.
This confirms the person accessing the link controls the phone number associated with the account.
Step 4: Personal details entry
The recipient enters their address information—details they’ve lived at for at least 3 months:
- Address line 1
- Apartment, suite, etc. (optional)
- City
- State
- Zip code
The system explains: “This information will just be used to create questions only you can answer. It is not available to Safe Harbor Title and it will not be stored by CertifID.”
Step 5: Security questions
The recipient answers credit-based security questions with a 2-minute, 30-second timer. Example question: “In which of the following counties have you ever lived or owned property?”
They work through questions pulled from their credit history—information only the legitimate account holder would know. This creates a verification barrier fraudsters can’t easily overcome.
Step 6: Review account details
The recipient enters their banking information, starting with their routing number. The system validates the routing number in real-time, displaying “Routing number matched!” with a green checkmark when verified.
They see a helpful note: “The routing and account numbers on your checks may differ from the numbers needed for a wire. Please double-check with your financial institution.”
The screen prompts: “The funds will be deposited to the bank account below. Please double-check these details before submitting.”
Step 7: Confirmation and documentation
Once approved, the success screen displays: “Thank you! These account details have been shared securely with Pinpoint.”
The recipient can expand “SHOW ACCOUNT DETAILS” to view the complete confirmation, which includes:
CREDIT TO
- Complete account holder information
- Full account number
- Account type
BENEFICIARY BANK
- Bank name and wire routing number
Both you and the recipient receive a PDF confirmation showing complete account details, property address, and beneficiary bank information with full routing and account numbers.
The document includes insurance coverage details: “You’re covered. Thank you for verifying your identity and the bank account information. These bank account details have been reviewed and will be used for the transaction.”
What you receive: You get instant confirmation in your CertifID dashboard showing the recipient verified their identity and approved the banking details. You have documented proof that:
- Device validation passed
- Phone number verified
- Identity confirmed through security questions
- Banking details reviewed and approved by the authorized account holder
The transaction is backed by up to $5 million in direct insurance per file. Every step is documented, creating a complete audit trail for compliance