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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Monthly Archives June 2023
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
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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