OCTOBER 2022 ISSUE

WEARING PINK FOR A GREAT CAUSE!

Several members of the Chicago Title Buffalo office kicked off Breast Cancer Awareness Month on October 3rd by wearing pink to work. It is a cause that hits close to home for many, including employees at Chicago Title.  

Later in the month, employees gathered on Friday afternoon for the annual charity basket raffle.  We had a record 85 baskets this year that employees could try to win.  Prizes ranged anything from household items, food and drink items, and even a day off of work!  This year, the Buffalo office raised over $1,300 towards the chosen charity.  Congratulations to everyone!

Even when title companies are not the direct targets of ransomware, these attacks can have significant downstream impacts on our industry. Last year, Cloudstar — a provider of IT security solutions and cloud hosting services — was one of many companies that fell victim to a ransomware attack.

Many of Cloudstar's customers were settlement agents and title companies, who used Cloudstar's encrypted cloud storage service to host their production systems and data. When the ransomware attack took Cloudstar's systems offline, the settlement agents and title companies had no ability to access their production systems or data. This caused a disruption to their business by delaying closings. 

Other providers, such as SoftPro, quickly offered their expertise, products and services to the settlement agents and title companies affected by the attack, which helped to minimize the disruption to the industry. Many Cloudstar customers, however, had to start from the beginning and re-build their data because it was all encrypted in Cloudstar's systems, which were inaccessible with no ETA on restoration. 

More recently, Suffolk County, New York, was struck last month by a ransomware attack that targeted many of the county's computer systems, including the systems that house the county's legal and land records. 

Without the ability to access these records, the title industry could not conduct title searches, creating delays in real estate transactions and closings.

To continue reading this article, click the link below:

https://fraudinsights.fnf.com/vol17iss10/article3.htm

IMPORTANT MEMO ON PLACING ONLINE ORDERS

WITH CHICAGO TITLE   

Customers love our online ordering platform for several reasons, whether it's the secure login, order acknowledgements, or the ability to order multiple products on the same order.  It's fast, easy and the best way to ensure your order for Search or Title Insurance gets to us.  

The advantage to ordering multiple products on the same order form is key.  For example, if you have a transaction involving a condominium and a Last Owner Search is needed as well as an Owner's Title Insurance Policy, you have the ability to request those on the same form, and even upload any previous back title documents that are needed for examination.  This helps our Order Entry team, since both products would be opened and put into our database by the Title Insurance department.  

Remember, you do not have to send us the original abstract or old policy for title examination purposes.  Just upload a copy of the updated abstract or policy to your online order.  We actually prefer a copy!  The only time the original abstract is needed is for a Search Continuation on the sell side.  

If you're not registered to order online and would like to get set up, please visit  https://northernnyorder.ctic.com/OnlineOrders/#/login.  Click the "Register" link under the LOG IN button to complete the registration form.  

If you have any questions, please contact Jeff Leichtnam at jeffrey.leichtnam@ctt.com or 716.200.5872.

KEEP YOUR GUARD UP WITH

MULTI-FACTOR AUTHENTICATION (MFA)!

Imagine that your computer, with all of your sensitive information and personal belongings, is like a castle. Your password is the lock on the door, but enabling multi-factor authentication is like building a moat. Similar to a moat, MFA is an additional defense against attacks. It makes it even more difficult for scammers and hackers to compromise your account. When possible, you should always turn on MFA because it's easy to do and greatly increases your security.

 HOW DOES MFA WORK?

Enabling MFA adds an additional step when logging into an account. The first step is entering your password, and the second step is providing an extra way of proving that it's really you. This could be a PIN code or texting/emailing a code to your mobile device. 

 MFA CAN INCLUDE:

·        An extra PIN (personal identification number)

·        The answer to a security question (ex: What's your pet's name?)

·        An additional code emailed to a mobile number

·        Facial recognition or a fingerprint

·        A yes/no button or unique number generated by an authenticator app (like those from Microsoft, Google, or Duo)

·        A secure token, which is a separate piece of hardware (like a key fob)

DO ALL ACCOUNTS OFFER MFA?

?

Not every account offers MFA, but it's becoming more popular every day. MFA is the standard for most financial institutions, online stores, and social media platforms. According to Microsoft, enabling multi-factor authentication is 99.9% effective in preventing breaches. Simply put, use MFA everywhere you can.

For more information about cybersecurity, please visit https://www.cisa.gov/national-cyber-security-awareness-month