As online payments are becoming increasingly popular in all industries, so is the art of stealing this sensitive information. Within the real estate industry, there have been several instances where an email from a hacker requesting payment is mistaken for an email from a realtor, lawyer, or title company requesting payment. If this happens and the buyer submits their money to this “hacker,” the money can be deposited into an offshore account far away and is gone for good.
To outsmart the hackers and ensure complete safety of the buyer’s earnest money payment, TrustFunds has put layers of security and verification in place. With TrustFunds, the buyer and their agent work together to establish specific items that will be included in the email requesting earnest money payment. The buyer will receive an email from their agent that contains specific agent and home listing verification information along with a verification method discussed and known only by the agent and buyer. Within this email lies a link that brings buyers to TrustFunds’ secure payment site.
Throughout the short process of making a payment via TrustFunds, the buyer is able to tell at every step of the way that they are depositing their money into the correct place. As hackers continue to advance their methods, TrustFunds will continue to add more factors of verification and security.