Cybercriminals
 

Fraud and cybercrime, particularly involving bank wire transfers for real estate transactions, continue to increase at an alarming rate.

The Tax Code requires that a Qualified Intermediary (QI) hold your funds during the 1031 Exchange. Surprisingly, there are no Federal requirements regarding the security that QIs have in place for the monies they are holding for their customers. Therefore, it is critical that you choose a QI that is informed and vigilant and one that has proactive protections in place to thwart cybercriminals.

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With IPX1031 as your QI, rest assured that protective measures are in place to safeguard your real estate funds:

  • Secure Signing: IPX1031 implements a multitude of digital security measures, including the use of a secure electronic document-signing platform. The digital signature platform incorporates processes designed to verify the signor of documents. This helps to eliminate potential fraudulent activity from those involved in an exchange transaction such as emails targeting wiring instructions or disbursement authorizations. Read about IPX1031’s Digital Signature process here.

  • Financial Assurance: Since QIs are unregulated by the Federal Government, they are not required to have cybersecurity prevention protocols in place. IPX1031 is a Fidelity National Financial company (NYSE:FNF). As part of a Fortune 500 Company, IPX1031 provides sophisticated technologies to protect your funds that are backed by a 100 Million dollar Fidelity Bond and a separate 50 Million dollar Written Performance Guaranty. Click here to see our full umbrella of coverage.

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Cybercrime is evolving and will continue to be an ongoing threat. Ask your QI about their cybercrime prevention policies and vigilance to secure all of their customers’ Exchange funds. Your funds depend on it.


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IPX1031- Choose the Experts


As the nationwide leader in tax deferred exchanges, IPX1031 is here to offer you the best in service, experience and security. When you choose IPX1031 as your Qualified Intermediary, you can be confident that your exchange will be handled expertly and that your funds will be safe, secure, and available when needed. IPX1031 strives to help our clients and their advisors keep current on tax and industry issues pertaining to 1031 Exchanges. For more information about us, additional resources, or our complimentary monthly webinars, visit our website at www.ipx1031.com.

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