Oct 24, 2023
Another year, another great ALTA ONE conference. Whether you were able to make it to beautiful Colorado Springs or not - here are five of our biggest takeaways.
Six sessions focused primarily on fraud. From best practices and tips on preventing fraud, to the most prevalent threats. The topic was covered both in the sessions and on the conference floor. We spoke to countless agent and underwriter partners about their battle to protect their businesses.
It wasn’t all doom and gloom though. We heard from multiple customers who shared that “PayoffProtect literally saved my team from wiring out hundreds of thousands of dollars to a fraudster.” Additionally, many folks popped by our booth simply to share stories about seller impersonation and to ask how we were solving for it.
If you thought it was just the news cycle focusing on Artificial Intelligence, think again. Tyler Adams, our co-founder and CEO, dove into the terrifying potential of the latest AI technology like deep fakes, voice mimicking, Chat GPT and the like. His session was flanked by Rahaf Harfoush, Digital Anthropologist and NY Times Best-Selling Author. She broke down the human element of AI and how that impacts not just the title industry but our society as a whole.
We’ll be watching this topic closely and sharing our learnings in the months to come. It’s official, people want to know more!
Whether it’s the current economic climate or the consistent rise in fraud, the title industry is weathering its biggest challenges to-date. Instead of wading through these headwinds independently, organizations are partnering.
For example, Elizabeth Reilly, SVP, Chief Privacy Officer (FNF) and Genady Vishnevetsky, Chief Info Security Officer (Stewart) shared the stage to break down the uses, risks, and legal implications of AI. Their tag-team approach to showing the audience how quickly you can build a Title Agency brand with the help of AI tools and the legal implications of those shortcuts was fascinating. It also opens up a whole new can of worms: how can we properly leverage AI as an industry?
As they say #bettertogether, the more we can collaborate as an industry, the more likely we are to survive current and future headwinds.
For all the talk of fraud, there are few resources that actually help those who have fallen victim. We heard the standard recommendations: contact local law enforcement, file an FBI I3 complaint, or contact federal law enforcement.
If you’re a victim of fraud, yes, do all of those things above. But you can also reach out to CertifID as your first step. Our Fraud Recovery Services (FRS) provides a single point of contact for you to navigate a stressful and complex process. We’ve helped return $60M in stolen funds that would otherwise have been lost to fraudsters.
Save our hotline, (616) 202-6612, and bookmark our website.
When it comes to preventing fraud, there has and should be an emphasis on creating broader awareness. As the stakes rise, so too, do the precautionary steps. We engaged in multiple conversations about fraud prevention as a business objective and cultural shift.
Elizabeth Berg, VP for Education and Training (FNF), explained “there needs to be a shift; we must begin to create a culture of awareness and acceptance.” She went on to explain that the more we can normalize the topic of fraud through a regular cadence of discussions (think monthly meetings), the more likely we are to make prevention a part of our processes.
Did you attend ALTA ONE this year? What were your biggest takeaways? Let us know what piqued your interest or the topics you want to hear more about.
Caroline heads up partnership marketing at CertifID. Her diverse background in proptech, consumer electronics and CPG enables her to build relationships and foster partnerships across organizations.