IRVINE, Calif., Aug. 08, 2018 (GLOBE NEWSWIRE) -- Identillect Technologies Corp. (the "Company" or "Identillect") (TSX-V:ID) (OTCQB:IDTLF) (Frankfurt:8ID), a trusted leading provider of email security with blockchain technology announced today Route 66 Escrow has integrated secure communication with Delivery Trust®. As wire fraud continues to be the fastest growing cyber-crime within the real-estate industry, Identillect combats this problem with the utilization of Blockchain Technology to prevent man-in-the-middle attacks.
Route 66 Escrow provides their clients superior service as they make one of the largest purchases in their lives. Route 66 Escrow has been one of the top choices for homebuyers throughout the California area for years. They focus on speed in executing the transaction and use their extensive knowledge and experience which enables them to anticipate and overcome obstacles. They have two locations and are in the process of opening two additional location in 2018.
Mark Hollander, President and CEO of Route 66 Escrow states, “Route 66 Escrow provides its clients with expedient and reliable service as they make this important purchase. We believe the security of their information and transaction is paramount to the service we provide; therefore, we chose to integrate Delivery Trust secure email solution for the protection of our clients.“
The fastest growing Real-Estate Cybercrime is wire fraud, 27% of all real-estate cybercrimes stemmed from wire fraud. Wire fraud in real-estate saw a significant increase from $19 million in 2016 to $969 million in 2017. In 2016, the FBI saw a 480% increase in wire fraud complaints over the previous year. The FBI has not released the severity of 2018 numbers but based on the increase in actual wire fraud from 2016 to 2017 a large surge is anticipated. With the majority of real-estate transactions occurring over email the FBI has issued a warning BEC Scam (business email compromise) “targets all participants in real-estate transactions” this means no transaction is safe without the proper security measures.
Todd Sexton, CEO of Identillect Technologies comments, “We are pleased to integrate Delivery Trust email security with blockchain technology for Route 66 Escrow to secure their communication needs. As wire fraud becomes one of the FBI’s most challenging crimes to combat Identillect will continue to assist in the prevention of this form of cyber-crime.”
Identillect continues to serve real-estate professionals throughout the United States which is critical due to the fact there will be an estimated 6.3 million home sales in 2018, this provides an epic opportunity for cybercriminals to irreparably effect this industry. Identillect with one of the only email security offerings directly focusing on this problem is anticipated to make large inroads in preventing wire fraud.
On Behalf of the Board of Directors of:
IDENTILLECT TECHNOLOGIES CORP.
Todd Sexton
Chief Executive Officer
Tel: (949) 468-7878
Email: todd.sexton@identillect.com
About Identillect
Identillect Technologies is the leading provider of email encryption service Delivery Trust®, empowering enterprises of all sizes to protect their business and their client’s critical information against cyber security attacks.
Delivery Trust® is an award-winning, multi-platform plug-in, which gives users complete control of their emails, for one low price. One simple integration complies with all regulations and most importantly provides peace of mind.
For more information, or your free trial, please visit www.identillect.com
About Route 66 Escrow
Route 66 Escrow provides their clients superior service as they make one of the largest purchases in their lives. Route 66 Escrow has been one of the top choices for homebuyers throughout the area for years. They focus on speed in executing the transaction and use their extensive knowledge and experience which enables them to anticipate and overcome obstacles. They have two locations and are in the process of opening two additional location in 2018. Route 66 Escrow will continue to be a leading escrow provider throughout the area for years to come.
For more information, please visit https://www.route66escrow.com
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This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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