Posts by Vanshika

    Mortgage Bankers Association’s MBA Newslink reports “FundingShield Finds Wire, Title Fraud Big Risk in Q2 (2023)” FundingShield‘s Q2 2023 wire fraud & title fraud risk report was featured in the Mortgage Bankers Association‘s “MBA Newslink”. Click below to read through how cybersecurity gaps and business email compromise “BEC” attacks at lenders and their vendor/supplier networks are increasing fraud risk despite lower loan volumes.   Follow this link for the full article from MBA NewLink Full article
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    FundingShield CEO Ike Suri Featured on the Chrisman Commentary Podcast to discuss the Q2 2023 Wire and Title Fraud Report   Listen to Ike Suri, CEO of FundingShield, being interviewed on Rob Chrisman’s “The Chrisman Commentary.” Ike discusses wire fraud, title fraud, market risk and the FundingShield Q2 2023 Wire and Title Fraud Report on the July 25, 2023 episode.  
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    FundingShield CEO Ike Suri on the Panel “Cyber Security, Fraud and You”   Explore cybersecurity & fraud threats in mortgages with CEO Ike Suri & experts at CMBA Mortgage Innovators 2023. Discover best safeguards for your business! Watch the discussion below and learn about the best safeguards for your business!
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    FundingShield Q2 2023 Fraud Analytics Commentary from FundingShield’s CEO Ike Suri: Q2 2023 REPORT Wire and title fraud continue to persist at alarming highs in 2023. With 50.2% of loans in Q2 of 2023 having at least one risk issue, it’s evident that the risk of a fraud event has gone up despite stagnant or declining volumes compared to 2022. Quarterly Data During Q2-2023 50.2% percent of transactions on a $68bn portfolio had issues leading to a risk of wire & title fraud. On average, problematic loans had almost 2 issues per loan indicating the lack of appropriate
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    FundingShield leverages Mastercard open banking to expand payment verification solutions; preventing wire and payment fraud   NEWPORT BEACH, California, June 26, 2023. FundingShield, a market-leading, cloud-based firm providing fintech solutions to manage risk, compliance and fraud prevention, has entered a partnership with Mastercard to leverage its open banking platform delivered by Finicity, a Mastercard company. FundingShield provides live, source data-based technology products and SaaS solutions – that have been used to secure the funds of over $2.5 trillion in mortgage closings. – FundingShield CEO Ike Suri shared, – “FundingShield has over 95% coverage of licensed service providers in
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    The FBI shared statistics of $10.3B in Fraud losses, this does not include a much larger amount that is grossly unreported from the high risk transactions we identify, prevent, and remediate at FundingShield on real time basis – Ike Suri, CEO FundingShield.       Read more here: https://www.nationalmortgagenews.com/news/real-estate-related-email-fraud-costs-record-dollar-losses     Business email compromise scams related to real estate set a record for dollar losses in 2022, as the number of cases reported to the Federal Bureau of Investigation rose for the second consecutive year. The 2,284 complaints received last year, the second most ever, lagged the all-time
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    FundingShield President Adam Chaudhary Featured on the Chrisman Commentary Podcast   Listen to Adam Chaudhary, President of FundingShield being interviewed on Rob Chrisman’s Podcast “The Chrisman Commentary”. Adam discusses wire fraud, title fraud, the FundingShield Quarterly fraud report and why market participants need live data to manage risk.
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    Ike Suri featured on the California Mortgage Bankers Diversity, Equity & Inclusion podcast   FundingShield’s CEO Ike Suri sat down with Tai Pherribo Christensen of Arrive Home to discuss his journey as a student immigrant from India to successful entrepreneur. Thank you to California Mortgage Bankers Association’s Diversity, Equity & Inclusion Committee for hosting this webinar. Our stories, our diversity and our journeys highlight the vibrant communities we serve.
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    FundingShield Q1 2023 Fraud Analytics Commentary from FundingShield’s CEO Ike Suri: Wire and title fraud risk reached another new record in the first quarter of 2023 at 51.6% of transactions having at least one risk issue. With this all-time high percentage of issues, the impact of a single wire or title fraud event could be catastrophic. Cybersecurity and Cyber Insurance Mid-size businesses (defined as those with 250-2000 employees) are particularly vulnerable to cyber-attacks due to lack of resources relative to the number of systems, endpoints and amount of data they hold. In the mortgage industry these midÔÇösized companies
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    FundingShield CEO Ike Suri Featured on the Chrisman Commentary Podcast   Listen Ike Suri, CEO of FundingShield being interviewed on Rob Chrisman’s Podcast “The Chrisman Commentary”. Ike discusses wire fraud, title fraud and market risk.
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