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Identillect Technologies Corp
Symbol ID
Shares Issued 97,215,964
Close 2019-09-06 C$ 0.02
Market Cap C$ 1,944,319
Recent Sedar Documents

Identillect client Tammac using Delivery Trust

2019-09-09 08:03 ET - News Release

Mr. Todd Sexton reports

IDENTILLECT DEPLOYED DELIVERY TRUST TO TAMMAC HOLDINGS CORP. ENHANCING THE EMAIL CYBER SECURITY MEASURES ORGANIZATION- WIDE

Identillect Technologies Corp.'s software has been deployed throughout Tammac Holdings Corp.'s organization to provide secure communications and wire fraud protection. As wire fraud continues to be the fastest growing cybercrime within the real estate industry, Identillect combats this problem with the utilization of blockchain technology to assist in the prevention of man-in-the-middle attacks.

Tammac has been a leader in offering new and competitive financing options to the manufactured housing industry. Supported by cutting-edge technology, Tammac remains true to its long-held philosophy of personalized service. Tammac currently operates in 13 states in the Northeast and Midwest and has originated over $1-billion in manufactured housing loans since 1997, it was the first company to offer an industry-friendly land/home construction program.

Jim Zarra, information technology manager at Tammac Holdings, states: "Tammac Holdings Corp. continually increases the security measures within all facets of the organization. We have recently integrated Delivery Trust e-mail security to enhance the protection measures throughout our organization. We are pleased to deploy this simple and secure solution designed for the real estate industry."

The fastest growing real estate cybercrime is wire fraud, 27 per cent 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-per-cent 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 e-mail, the FBI has issued a warning BEC Scam (business e-mail compromise) "targets all participants in real estate transactions" this means no transaction is safe without the proper security measures.

Todd Sexton, chief executive officer of Identillect Technologies, comments: "We are thrilled to be serving the cybersecurity needs of Tammac Holding Corp., they are a well-respected organization involved in all facets of the manufactured home building and selling process. As the need for cyberprotection continues to grow and 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 cybercrime."

Identillect continues to serve real estate professionals throughout the United States which is critical due to the fact there were 6.3 million home sales in 2018, this provides an epic opportunity for cybercriminals to irreparably affect this industry. Identillect, with one of the only e-mail security offerings directly focusing on this problem, is anticipated to make large inroads in preventing wire fraud.

About Identillect Technologies Corp.

Identillect Technologies is the leading provider of e-mail encryption service Delivery Trust, empowering enterprises of all sizes to protect their business and their client's critical information against cybersecurity attacks. Delivery Trust is an award-winning, multiplatform plug-in, which gives users complete control of their e-mails, for one low price. One simple integration complies with all regulations and most importantly provides peace of mind.

We seek Safe Harbor.

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