RPost Releases its Enterprise-Grade Enhancements in RMail’s Targeted Wire Fraud Attack Pre-Emption Tech.
June 22, 2023 – Los Angeles, CA
RPost announces its release of enterprise-grade enhancements to its patent pending RMail PRE-Crime AI technologies. These RMail eSecurity services are designed to alert financial services, real estate, legal/escrow, and generally any company that sends substantial invoices, if payment related information that they send is being actively eavesdropped on by cybercriminals after delivery to recipients with intent to lure recipients into mis-sending funds. This enhanced RMail AI lets customers fine-tune the detection technologies and who is alerted; when closing funds or payments are about to be hijacked, before the steal.
“We’ve listened to our customers and have teams that are continuously evolving RPost cybersecurity automation and AI technologies; to help customers identify and thwart today’s most prevalent cybercriminal tactics,” exclaims RPost CEO Zafar Khan. “Many focus on the fierceness of ransomware; however according to the FBI, last year’s cost of ransomware was one percent of the cost of cybercriminal lures to trick invoice payors to sending money accidentally to cybercriminal accounts. Criminally altered invoices and real estate closing documents are today’s most costly cybercrime to businesses everywhere.”
The FBI reports that $2.7 billion was mis-wired by businesspeople and home buyers in 2022, most of it irretrievably sent to offshore accounts. By contrast $34 million was paid last year to cybercriminal ransomware gangs.
“After extensive research and evaluation, RPost was selected to replace one of the top leaders in the email encryption industry at a number of Shaddock National Holding companies. RPost stood out for its innovative and rapid approach to customizing a solution for potentially detecting external Business Email Compromise activity,” states Jeff Richardson, CIO of Shaddock National, one of the largest private title insurance companies in the United States. Shaddock National has successfully employed RMail’s targeted attack pre-emption technologies in the RMail PRE-Crime suite.
The US Secret Service reported that $150,000 was being mistakenly wired (a/k/a tricked into mis-wiring) to cybercriminal accounts every 37 seconds on average in the United States alone. This epidemic of cybercrime is called Business Email Compromise and its main attack vector, Email Account Compromise, specifically targets the integrated real estate sector and all those involved in closings and sending invoices.
“With lightning speed, RPost developed and deployed a customized solution based on our wish list for detecting possible anomalous email activity within our business and customer network,” adds Richardson. “This groundbreaking feature was not available from any other email encryption vendor, making RPost the ideal choice to partner with. In just a few months, RPost exceeded our expectations and turned our wish list into a reality. With RPost's advanced eavesdropping technology, Shaddock National Holdings now has a crucial new tool in our arsenal to detect and thwart wire fraud attempts before they can cause any harm. We are thrilled to have found such a forward-thinking and innovative partner in RPost, who has transformed our email encryption strategy and provided us with a game-changing solution to protect our business and customers."
RPost featured these new targeted wire fraud attack cybercrime pre-empting technologies at the RESPRO® Real Estate Services Providers Council annual conference and has scheduled a technical webinar featuring RESPRO executives and Richardson. In this webinar, industry practitioners will showcase, step-by-step, how these sophisticated email crimes unfold -- either attacking senders or with consequence to senders of closing documents and invoices.
Click to join the June 28th RESPRO and RPost sponsored webinar entitled, “Real Estate Closing Hijacks: How to Detect When Closing Funds Are About to Be Hijacked (Mis-Wired).” Or contact RPost to learn more.
We’re the global leader in premium, feature-rich and more affordable eSignature and cybersecurity services, and we’ve been continuously innovating for our customers the world over since 2000. From within our three main platforms, RMail eSecurity, RSign eSignatures, and Registered™ eCompliance, we’re everything our customers need when it comes to email, document and form security, compliance, and workplace acceleration — track, prove, eSign, encrypt, share, certify, control. We do what no other company does — all in one.
We thrive on ensuring that we are artisans and experts in everything we do: secure and certified email encryption for privacy and compliance; eSignatures and web forms to ease digitization of workflows; e-delivery tracking to prove important communications; managed file transfer to simplify secure sharing of large documents and sets of files; document-level digital rights management to empower control of document access even after transmission; and AI-infused apps to prevent data leaks by minimizing human e-security errors. This is why more than 25 million users have enjoyed our RMail, RSign, and Registered services for over two decades across 193 countries. Learn more at the RPost website.
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