HousingWireHousingWire
First American Title is upping the ante when it comes to fraud prevention. On Monday, the largest subsidiary of First American Financial Corporation announced it was broadening its suite of fraud prevention technology with a new cybersecurity tool.
The enhancement to its suite of tools includes new identity verification technology powered by Intellicheck. This tool will allow policy issuing title agents to confirm the identities of real estate transaction participants early in the process.
This identity verification tool will be joining First American’s existing suite of technology, which includes real-time data insights, secure wire and payoff verification, identity confirmation and added protection through the company’s Eagle Policy, where available. First American’s suite of fraud prevention tools is available to the firm’s title agents within the company’s AgentNet platform.
“The threat from real estate fraud continues to grow, making early identity verification an essential safeguard for our industry,” Steve Vincini, president of First American Title’s Agency Division, said in a statement. “AgentNet is built with our agents in mind, and by integrating leading-edge, AI-driven identity verification into our solutions, we’re reinforcing our long-standing commitment to deliver the certainty and trust that powers seamless real estate transactions.”
Fraud risks continue to be top of mind for title professionals. In a 2024 Internet Crime Report, the Federal Bureau of Investigation found that cyber-enabled fraud losses came in at more than $13.7 billion.