Alliant National is the sole title insurance underwriter to achieve this information assets security certification
LONGMONT, Colo. – Alliant National Title Insurance Company, a unique title insurance underwriter that partners with independent agents to improve their competitive position in the marketplace, has completed its 2019 annual surveillance audit and maintained the prestigious and coveted ISO 27001 Certification for 2019.
Alliant National must successfully complete a formal, independent annual surveillance audit to maintain the certification. Successfully completing this audit is evidence that Alliant National continues to meet rigorous international standards in ensuring the confidentiality, integrity, availability and protection of non-public information.
“This annual audit provides lenders and our stakeholders strong assurance in our protection of non-public and confidential information,” Alliant National COO David Sinclair said. “It reflects our ongoing commitment to meet or exceed the highest standards when securing and protecting the non-public information that we are entrusted with every day.”
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ISO 27001 is an information security standard published by the International Organization for Standardization (ISO), the world’s largest developer of voluntary international standards, and the International Electrotechnical Commission.
Alliant National’s initial certification was issued in May 2015 by A-lign, an independent and accredited certification body based in the United States. In 2018 Alliant National was recertified until 2021 subject to successfully completing annual independent surveillance audits.
“We are very pleased to have successfully completed this 2019 annual ISO 27001 certification surveillance audit, which continues to distinguish the unique capabilities of Alliant National,” Sinclair said.
About Alliant National Title Insurance Company
The Independent Underwriter for The Independent Agent® Alliant National believes in putting other people first. The company protects the dreams of property owners with secure title insurance and partners with 500+ trusted independent title agents as a licensed underwriter in 24 states and the District of Columbia.
Alliant National is the largest title insurance underwriter in the country with no direct operations to compete against its agents and puts the interests of its agents first. Bolstered by financial stability, strong underwriting capability and independent agents’ in-depth knowledge of local markets, the company has established a nationwide network with deep roots in local communities and a wealth of expertise that is flexible, nuanced and continuously growing.
The Internal Revenue Service and Security Summit partners recently issued a warning about the surge of fraudulent emails impersonating the IRS and using tax transcripts as bait to entice users to open documents containing malware.
The scam is especially problematic for businesses whose employees might open the malware because the software can spread throughout the network and potentially take months to successfully remove.
Known as Emotet, this malware generally poses as specific banks and financial institutions in its effort to trick people into opening infected documents.
In the past few weeks, the scam masqueraded as the IRS, pretending to be from “IRS Online.” The scam email carries an attachment labeled “Tax Account Transcript” or something similar, and the subject line uses some variation of the phrase “tax transcript.”
These clues can change with each version of the malware. Scores of these malicious Emotet emails were forwarded to phishing@irs.gov. recently.
The IRS reminds taxpayers it does not send unsolicited emails to the public, nor would it email a sensitive document such as a tax transcript, which is a summary of a tax return. The IRS urges taxpayers not to open the email or the attachment.
If using a personal computer, delete or forward the scam email to phishing@irs.gov.
If you see these using an employer’s computer, notify the company’s technology professionals.
Reprinted with permission from the American Land Title Association.
However, we don’t have to wait until a federal law is passed that orders banks to match the payee name on the wire transfer payment to name on the payee’s destination bank account (“Beneficiary Bank”).
As title and escrow agents, we can be proactive and in partnership with the banks with which we do business.
So, what can we do right now?
First, we can know what our Agreement with our Escrow Account Bank says.
Does your Bank Agreement say that your bank will check the payee’s name with the name on the destination account when a wire fund transfer is initiated?
Or, does it say your bank need only rely upon the account number it was provided in the wiring instructions order? The answers to these questions might lead to an opportunity to have a discussion with your partnering Receiving Bank.
We can also send the wire instructions on the payment order, with explicit directions that acceptance be restricted to match the designated payee’s name on the Beneficiary Bank account. If it doesn’t match, then do not send the funds.
Lastly, if something does go wrong despite our best efforts and precautions, then notify both the Beneficiary Bank and the Receiving Bank as soon as possible. Typically, banks require notification of an unauthorized transfer or error within a defined time period such as, for example, thirty or sixty days.
Aside from any contractual or legal requirement for early notification, the sooner the problem is communicated, the greater the odds of the bank being able to halt or pull back the wire funds transfer.
According to the IRS, thousands of people have lost millions of dollars and their personal information to tax scams.
These days, when we consider fraud schemes targeting title agents, we usually think about email scams where criminals attempt to interject themselves into specific transactions for the purpose of diverting a wire.
Such scams can be devastating for agents and consumers, and we must guard against this type of email fraud.
However, scams involving real estate transactions are just one small piece of the larger fraud puzzle; and with tax season upon us, it’s important to remember that our industry is not immune to the types of email and other schemes that are common to other businesses.
According to the IRS, thousands of people have lost millions of dollars and their personal information to tax scams.
Scammers use the regular mail, telephone, or email to set up individuals, businesses, payroll and tax professionals.
The agency recently released a flurry of alerts warning of various schemes. You can find a full summary on the IRS webpage, but here are just a few highlights.
W-2 scam
The IRS warned that fraudsters are increasingly targeting payroll and human resource departments in an attempt to obtain their Forms W-2, which the criminals then use to file fraudulent tax returns.
To work the scam, the fraudster writes emails that look like they’re from an organization executive. The emails are directed to an internal employee with access to wage and tax information, and they often begin with an innocent greeting, such as: “hi, are you working today.”
Soon, the fraudster asks for all Form W-2 information.
The W-2 phishing scam has victimized hundreds of organizations and thousands of employees in recent years, the IRS said. Employers of all sizes have been affected including public schools, universities, hospitals, tribal governments and charities.
The IRS has established a process allowing businesses and payroll service providers to quickly report any data losses related to the W-2 scam.
Some simple technologies even allow fraudsters to spoof phone numbers. So, a criminal could call you, but make it look like the call was coming from someone legitimately involved in the transaction.
As it turns out, tax fraudsters are using this same technology.
The IRS warned that criminals claiming to be IRS employees — using fake names and bogus IRS identification badge numbers — are trying to bully victims into sending them money.
Sometimes the fraudsters claim that the victim has a tax refund coming, and the money can be deposited if the victim provides his or her banking information.
The tax phone scam seems to be targeted toward individuals as opposed to businesses, but it underscores at least two important points: 1.) treat threats and high pressure language as a red flag; and 2.) the telephone isn’t always a “safe” method of communication.
Malware
Malware scams certainly aren’t new. Basically, the fraudster sends an email that looks like it’s from a trusted source, such as a business contact, a reputable company or a government agency.
The email directs the receiver to click a hyperlink or open an attachment.
When clicked, malicious software loads onto the victim’s computer, and the scammer uses that software to gain access to sensitive systems and information.
Fraudsters often attempt to trick title agents and others involved in real estate transactions into clicking malicious links by sending emails purporting to contain “important closing documents.”
By now many agents have seen the “closing documents” scheme, and they know how to avoid it. However, companies need to remain vigilant for other types of malware emails.
In recent weeks, the IRS has seen a surge in malware emails targeting the employees of all types of businesses. The emails, which appear to come from the IRS, carry malicious attachments labeled “Tax Account Transcript” or something similar. The words “tax transcript” often appear in the subject line.
The IRS reminded taxpayers that it does not send unsolicited emails to the public and would never email a sensitive document such as a tax transcript, which is a summary of a tax return.
If using a personal computer, such emails should be deleted or forwarded to phishing@irs.gov, the agency said. Those who receive such emails at work should notify their company’s technology team.
