Energizing the Future: 2023, Live Wire, and Beyond

Imagine a year where every challenge is an opportunity to innovate and every connection a chance to learn. That was 2023 for us at CertifID. 

From the opening moment of our first customer conference, Live Wire, to the stories across the industry that enlightened us all, this year has been a testament to the work being made to stop real estate wire fraud. I’ve witnessed firsthand the power of a committed team and community this year, making me more excited than ever for the coming year.

2023 at a Glance

Looking back, it’s clear that we’re all on the right path to a more secure and trusted future. Our achievements over the past twelve months show we’re getting closer to the original vision of CertifID: help create a world without wire fraud. Here are a few milestones that are laying the foundation for an even better 2024.

$1B+ in suspected fraud prevented by CertifID customers

This year, we helped prevent over a billion dollars in suspected fraud, highlighting the intentionality of our industry. I’m proud that our solution has helped so many keep money out of the hands of bad actors, but I’m just as excited to see the culture shift toward better, safer transactions as a whole.

$10M in stolen funds recovered by FRS

Our Fraud Recovery Services successfully recovered over $10M in stolen funds this year. It's a massive achievement when our team can call someone to let them know their money is coming back.

It’s not just about the amount we recovered, it's the peace we know we brought to victims. (A feeling we know better than most.)

We grew our team by 59%

The real estate industry has been experiencing a massive increase in fraud attacks, taking down major lenders, and stealing funds from hardworking people. Staying ahead of fraudsters requires hiring the right people dedicated to keeping fraudsters at bay.

In 2023, we grew our team to 66 full-time employees. That’s more fraud prevention specialists working hard to protect you and your business. And I couldn’t be more thrilled with the team and what I know we can accomplish together.

Live Wire 2023 Recap

Another massive milestone: hosting Live Wire, our first-ever customer conference. We brought industry experts and partners from over 24 different states to Austin, Texas, to discuss the future of cybersecurity and fraud in the title industry. And, of course, have some fun.

This one-day power conference challenged and inspired more active participation in the fight against fraud. To put it simply: it was electric. Here are some of the highlights.

An afternoon of awe

Geoff White, BBC Investigative Journalist and author of The Lazarus Heist, kicked off our keynote events with a dive into the dark underbelly of international cybercrime. His tales took us around the world, revealing how he uncovered the truths behind the secretive hacker syndicate The Lazarus Group. 

He reminded us that while fraud still operates almost exclusively online, the impact of fraud is deeply human.

We followed Geoff’s keynote with an engaging panel of industry experts, including Dr. Shawn McAlmont, CEO of NINJIO Cybersecurity Awareness Training, Genady Vishnevetsky, CISO at Stewart Title, and Srinath Kuruvadi, Head of Product Security for Cloud at JP Morgan & Chase. Claudia Lee, our VP of Marketing, moderated the discussion. 

In the panel, they discussed the importance of building a culture of cybersecurity at your business. They explained the importance of proactive prevention and how everyone has a role to play in eliminating and identifying fraud. 

The takeaway: we must shift culture toward fraud prevention and awareness and not only rely on individual tactics or programs to keep each other safe.

Later that afternoon, attendees engaged in hands-on workshops focused on reducing vulnerabilities, building talent and people ops, and crafting effective incident response plans. They exchanged experiences and strategies for dealing with the changing landscape of fraud.

This was one of my favorite moments of the event. Hearing teams share — in detail — how they’re preventing and educating others about cybersecurity and real estate wire fraud was powerful. We all walked away more informed and better connected.

Tara Smith, President of Agency Services at Stewart Title, ended our keynote events with suggestions for areas of investment and redesign to help industry professionals prepare for the next real estate cycle. 

She shared additional strategies for partnering with others. And she highlighted why it’s so crucial to not only focus on today’s challenges, but plan for tomorrow to ensure you build the best version of your business.

Finally, we ended the event with hors d'oeuvres and cocktails, followed by our first-ever CertifID Customer Awards. I had the privilege of meeting and connecting with great teams from across the country. Congrats to all the winners!

Live Wire was a reminder of the strength and commitment within our community to combat fraud. The shared experiences and collective determination we’ve all had in the face of fraud have deepened our connections this year. 

Our industry is better when we learn together, and I look forward to doing more next year.

What we learned, what’s next

This year taught us a lot. In 2023, we saw cybersecurity and wire fraud evolve rapidly. While the unfortunate impact of wire fraud was noticed across the industry, so was our industry’s resilience and ability to adapt in the face of new challenges.

There’s always a bigger (ph)ish

The rise of seller impersonation fraud and the use of generative AI in fraud proved we can’t rest on our laurels. Fraudsters won’t stop evolving — and neither should we. These lessons are making us all more agile, and it’s reminding us that we should always be innovating.

2024 is the year of partnerships

Fraud prevention is a team effort, and that was made clear this year. It’s up to all of us to do our part.

Real estate agents are often the first point of contact with clients, making them uniquely positioned to identify potential fraud. Title agents, with their expertise in transaction details, can spot discrepancies that signal fraud. When working together, they create a formidable defense. This was explained best during one of our To Catch a Fraudster webinars this year with Jennifer Wauhob, NAR’s former VP of Association Affairs.

I hope we continue to bridge the gap between our industry experts to eliminate fraud throughout the transaction.

We must focus on consumers

Next year, we anticipate new types of fraud emerging as technology advances. It’s essential for agents to stay informed and use the latest tools and practices to protect their clients. By making fraud prevention a focal point in your business for 2024, we can significantly reduce the risk of wire fraud in real estate transactions — and keep our customers safer.

Let’s work together

I’m incredibly excited for 2024. We’re full steam ahead at CertifID and ready to create more meaningful events, partnerships, and solutions. Stay connected for updates on our plans as we continue to grow and tackle challenges together.