FundingShield 2020 Holiday Season
Wire & Title Fraud Analytics
FundingShield analytics show wire & title fraud threats have spiked at over 200% when comparing the 2019 to the 2020 holiday season. 

Further the broader cyber-risk beyond the mortgage industry shows fraud and risk has spiked by over an 800% increase in cyber-attacks with nearly 4000 attacks a day being reported since the onset of Covid-19 to the FBI’s Internet Crime Complaint Center “IC3” and cybercrime units. 
Ike Suri shared, “Work From Home will remain the norm irrespective of containment and vaccinations, this digital transformation becoming the norm will present continued challenges for CEOs, security teams and firms on how to secure their business models in 2021 and beyond. Adopting Zero trust network access protocols for data and technology will be required alongside ‘100% trust but verify’ protocols for human based interactions and workflows.”

With a COVID-19 vaccination plan and 2021 in site, market participants must plan for the new year by remaining vigilant, prepared and equipped with fraud prevention tools.
Fannie Mae’s, Staphanie Derdouri (Sr. Director Information Security Risk) shared in Cyber Security Hub’s article Cyber Security: What is the First Thing To Do In 2021 a simple message “Engage Immediate Security Awareness. You have to make sure people are ready and listening.”
FundingShield’s tools have seen over 800% revenue growth as a trusted and dynamic response to the growing threats in the mortgage and real estate market. 

The firm’s analytics show that wire and title fraud threats have increased by over 185% since 2019

1 of 3 transactions have multiple risk factors - risk will concentrate quickly if not managed at the transaction level
A key part of any cyber-security, wire & title fraud prevention and closing agent risk compliance management solution will be a transaction-level prevention strategy such as FundingShield’s suite of B2B and B2B2C products that protect lenders and consumers. 
About FundingShield
Fundingshield is a MISMO Certified FinTech offering B2B & B2B2C solutions delivering transaction level coverage against wire & title fraud, settlement risk, closing agent compliance & cyber threats while reducing operating costs and improving asset quality for real estate investors and mortgage finance companies including banks, credit unions and independent mortgage banks. FundingShield’s user-centric plug’n’play tools are scalable, pay-per-loan, secure, cloud-based and are integrated via API's or LOS (Encompass) driving ROIs >200%. Fundingshield is a Housingwire TECH100 Winner for 2019 & 2020, CFO Tech Outlook Top 10 Financial Security Solution Provider, Ellie Mae Encompass partner and an IBM cloud services partner.
 
For more information on FundingShield or to speak with our sales or product team please email [email protected] or call 949 706 7888  


Find FundingShield on LinkedIN

#FundingShield #FinTech #MortgageTech #digitalmortgage #mortgagelending #WireFraud #RiskManagement #RegTech #ConsumerProtection #RealEstate #Settlements