KVS Title seeks to Combat Real Estate Fraud | Proof

Proof, a leading identity authorization network, has announced a partnership with KVS Title, a prominent title and settlement company in the Washington, DC metropolitan area. This partnership will see KVS Title deploy Proof’s Identify solution on the seller side of real estate transactions. The collaboration highlights Proof’s growing influence in the U.S. real estate market and its mission to address the increasing threat of real estate fraud, including those involving AI-powered deepfakes. Proof has already secured more than $350 billion in real estate transactions nationwide.

The Growing Threat of Real Estate Fraud

Fraud in real estate transactions—including mortgage fraud, wire fraud, and title fraud—is on the rise. In 2022, misrepresentation by sellers about properties increased by 22.6% compared to the previous year. Wire and title fraud risks have more than doubled since 2021, with over half of all transactions now showing signs of such risks. New York led the nation in mortgage fraud cases last year, followed by Florida and Rhode Island. Other states, such as Utah, are facing scams targeting vacant lots and land parcels.

Several factors contribute to these trends, including high interest rates, limited housing supply, and an aging population. These pressures increase vulnerabilities, such as failing to verify whether a seller’s identity matches the property owner or not properly vetting bank accounts linked to wire instructions. The rise of cyber fraud further exacerbates these risks, with the cost of digital attacks expected to reach $10.5 trillion annually by 2025—a 300% increase from 2015 levels.

Proof’s Identify Solution

Proof’s Identify solution is designed to address these challenges by leveraging advanced biometrics and AI-driven analytics. The goal is to ensure that every seller’s identity is verified with precision, providing essential fraud prevention for KVS Title’s clients.

Pat Kinsel, CEO of Proof, stated:

“Real estate fraud is evolving rapidly, and emerging threats like AI-powered deepfakes are making it more critical than ever to establish trust and security in every transaction. Our partnership with KVS Title highlights the transformative role Identify plays in protecting consumers, real estate agents, and the broader ecosystem from the devastating consequences of property fraud.”

Marty Stanton, COO of KVS Title, added:

“We are committed to protecting our clients and combating fraud. This includes using Proof’s Identify technology to help secure transactions in today’s challenging environment.”

Impact on the Real Estate Sector

Proof’s rapid adoption across the real estate sector demonstrates its effectiveness in addressing critical pain points related to fraud detection and prevention. Fraud not only affects individuals but also has ripple effects for real estate agents, title companies, mortgage lenders, attorneys, and law enforcement. By equipping organizations like KVS Title with industry-leading identity verification tools, Proof is setting a new standard for fraud prevention in real estate.

For more information, visit https://www.proof.com/product/identify.