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NATIC’s CloseWatch Reward program commends agents for thwarting wire fraud scams
 
Did you know that NATIC has a special program that rewards title agents, escrow officers and closing professionals for the proactive detection and prevention of fraud at the closing table? Our
CloseWatch Reward program acknowledges those who encounter and report fraud attempts with a $500 reward, certificate of gratitude and a plaque. To date, CloseWatch Reward recipients have prevented more than $15 million in company losses.

To find out more about our
CloseWatch Reward program, watch this brief video on NATIC TV:
 
 
Here are some recent reward recipients and their stories:


Colorado Senior Escrow Officer wrangles fraudster away from cowboy’s sale
A Senior Escrow Officer in Colorado received four emails and five phone calls from an individual claiming to be her seller and requesting revisions to the transaction’s wiring instructions. While the actual seller was known to the officer as a Caucasian “cowboy” in his 70s, the caller sounded younger and spoke with a foreign accent. In addition, the phony seller’s emails appeared to come from the listing agent. After the officer refused to comply the fraudster’s demands, he became aggressive, and she immediately contacted her NATIC underwriting counsel for assistance. She then reported the fraudster to the appropriate authorities, and the $120,000 transaction moved forward with no further problems. The officer received a letter of gratitude and a $500 CloseWatch Reward for stopping and reporting the scam — the second time this year she received a CloseWatch Reward.



Texas Escrow Officer discovers seller’s email was hacked
As a Texas Escrow Officer prepared for a closing, she received an email, purportedly from the seller, providing wire instructions for closing proceeds. Just to confirm, the officer presented this email to the seller at closing, but the seller informed her that he never sent any wiring instructions and did not hold the bank account mentioned in the email. When the officer forwarded the seller a copy of the email, she received a response from the hacker: “Yes. These are the correct wiring instructions.” For intercepting and reporting this email fraudster and protecting a $134,000 transaction, the Escrow Officer received a letter of thanks and a $500 CloseWatch Reward.



California Escrow Officer combats email fraud attempt
With all eyes on combating the rise of wire fraud in our industry, one California Escrow Officer was well-equipped to spot such an instance of fraud during a recent closing. The officer received an email purportedly from the seller’s agent requesting that more than $85,000 in sale proceeds be wired to a “personal trading account” in his name. This request deviated from prior written instructions on file, and the officer also noticed that the email address for the agent had been slightly changed. The officer contacted the seller and his agent via telephone, and they both confirmed that the email was fraudulent. The vigilant Escrow Officer received a $500 CloseWatch Reward and letter of gratitude for her vigilance and quick action.


North American Title Insurance Company rewards members of its agent network who prevent fraud or forgery. For more on the program, including red flags to avoid claims and how to submit a Reward Claim Form, visit AgentLink at https://agentlink.natic.com. Find the CloseWatch page under Tools & Resources.
 
rule
rule North American Title Insurance Company
10150 Mallard Creek Road | Suite 505
Charlotte, NC 28262

http://www.natic.com  
Mark Hungate
State Agency Manager - Southeast Region
e: mhungate@natic.com

p: 704.779.6828

http://www.natic.com/MarkHungate
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