
Alliant National Agents Make Sure Crime Doesn’t Pay
We’re honoring agents who played a critical role in safeguarding buyers and sellers throughout 2024.
It is famously said that “crime doesn’t pay.” Unfortunately, in the digital age, the opposite is often true. Fraud is a major problem in our industry, and a sad reality that many title agencies have to deal with. Yet a lot can be done to stem the tide and prevent financial and reputational harm. One strategy that Alliant National has deployed quite successfully is its Crime Watch Program. As The Independent Underwriter for the Independent Agentsm, Alliant National collaborates with its agents and incentivizes their efforts to detect, deter and prevent crime. The program has been very successful over the years, preventing millions of dollars of monetary loss. Continuing our New Year’s tradition, let’s review the 2024 program data and explore additional steps agents can take to foster a safer industry.
A persistent challenge
As we wrote last year, the problem of fraud within the title insurance industry is not going away. New digital tools are making the scammers’ job far easier, and victims often wind up paying a high price. Reporting from the previous year suggests Americans are defrauded out of billions of dollars every year due to wire fraud. The Senate Banking Committee recently wrote, for example, that those consumers lost approximately $10 billion in 2023 – up 14% from the year before.[i]
An all-of-the-above approach
Of course, as any seasoned agent knows, there are numerous strategies that can increase transaction safety and mitigate risk. Some of these include:
- Whenever possible, speak with clients directly to better confirm their identity.
- Deploy cybersecurity best practices like encryption to protect the integrity of wire instructions.
- Take a communicative and collaborative approach within your agency to ensure that critical details are never missed and that more people are looking out for relevant red flags.
- Stay apprised of the latest cybercrime schemes that fraudsters are using to steal money and harm transaction stakeholders. Currently, one of the most common schemes is seller impersonation fraud. You can read about it in this great blog by Alliant National’s Chief Claims Counsel.
- Continue educating yourself and your agency co-workers by taking advantage of continuing education classes offered through platforms like Alliant National Academy.
- Leverage fraud prevention technology platforms. Solutions like Alliant National’s SecureMyTransaction can play a powerful role in reducing transaction risk.
- Remember that if something feels off with a transaction, it probably is. Always trust your gut, your experiences and your expertise.
Underwriter + agent = A united front
In addition to the strategies outlined above, participating in Alliant National’s Crime Watch Program can help agents protect themselves, their businesses and their customers from fraud. The program rewards Alliant National agents to the tune of $1,000 each time they successfully stop a fraudulent transaction from going forward, thereby reducing the cost of claims. It also encourages agencies to work closely with their Alliant National underwriters when a suspicious transaction arises. Often, fraudsters will be less successful in pulling off a scheme if there are multiple sets of eyes on the transaction.
A crystal-clear impact
As last year’s Crime Watch data shows, this is clearly an effective approach to stopping fraudsters. In 2024, Alliant National agents prevented liability exposure of $5,075,000. Title agents stopped seller impersonators, prevented illegal fund diversions and recognized cashier’s check scams. Here’s the list of agents and agencies recognized by Alliant National for their fraud prevention efforts as part of the Crime Watch Program in 2024. We thank each of them for their dedication and commitment to promoting a safer industry.
- Lone Star Title Company of El Paso, Inc.
- Recipient: Joe Fernandez
- Texas Secure Title Company, LLC
- Recipients:
- Gretchen Wright
- Renee Hicks
- Ashley Cleveland
- Lizzie Angle
- Professional Land Title Company
- Recipient: Debbie Dicus
- Recipients:
- Manatee Title LLC
- Recipient: Nikki Vantilburg
- Matthews & Matthews, LLP
- Recipient: Tammie Fleming
- People’s Title, LLC
- Recipient: Lara Burris
- Alpha Title Guaranty, Inc.
- Recipient: Joshua Carter Randol
- Providence Title Company
- Recipients:
- Melissa Mutchler
- Kathy Montes
- Karla Allen
- Cathy Bennet
- Recipients:
- McGill Escrow & Title, LLC
- Recipient: Debbie Bello
- Asbury Land Title, Inc.
- Recipient: Jessica Taylor
- Burke Law and Title LLC
- Recipient: Beth Henry
- Brick City Title Insurance Agency, Inc.
- Recipient: Janeil Campbell
- Suncoast One Title – Port Charlotte
- Recipient: Jill Barberine
- Select Title & Escrow, LLC
- Recipient: Patricia Moore
- First International Title, LLC
- Recipient: Lucy Gomez
Keep fraudsters off balance in 2025
As a new year begins, now is the perfect time to recommit yourself and your agency to stopping fraud. This can seem like a tall order given the scope of the problem. Adhering closely to best practices and collaborating with your underwriter, though, are important ways to make progress toward this goal. Alliant National’s Crime Watch Program is a prime example. It highlights how the best path forward is the one where we all work together.
Want to learn more about Alliant National’s Crime Watch Program? Start here.
[i] Americans lose millions of dollars each year to wire transfer fraud scams. Could banks do more to stop it? – CBS News
Tags: crime watch, cybersecurity, fraud