Do you have questions about escrow security? Do you wonder if your accounts are at risk? In today’s business world, settlement agent’s escrow accounts are vulnerable to fraud, embezzlement, cyber-attacks and unintentional mistakes. The good news is that you can eliminate those risks by following six simple escrow accounting best practices.
RynohLive recently released a new whitepaper focusing on the safekeeping of escrow accounts. The document provides in-depth, step-by-step instructions on how to keep your accounts secure.
The whitepaper offers a thorough review of the importance of:
• Daily reconciliation;
• Electronic verification of reconciliation;
• Tracking daily disbursements; and
• Establishing strong cyber fraud protection.
RynohLive explains in its whitepaper that by following some simple escrow accounting best practices, and using today’s technology to your advantage, your business and your customers’ funds will be instantly safer.