Mortgage Wire Fraud
                     Measures To Fight Cyber Fraud In The Mortgage
And Finance Industry
Digitization has led to several positive changes in all the industries. Finance and mortgage
industry too has benefited a great deal  from the revolutionary digitization.  However,  like
there are two sides of a coin, the digitization too comes with the risk of online fraud. 
Online fraud is there wherever there is transaction and other forms of high value interaction,
mainly financial, take place. Consumers are not the only ones at risk of online fraud. Recent
data breaches points towards increasing incidents of fraudulent emails and practices that are
putting  businesses  increasingly  at  risk.   The  saving  grace  is  the  same safety  precautions
meant for consumers can also protect businesses.
Yet, the extent and reach of the impact of the online fraud in the financial sector calls for a
company-wide  security  plan  to  protect  sensitive  and  high-risk  transaction  data.  Some
financial and mortgage companies employ dedicated departments that work hard to protect
and take all the necessary precautions to prevent mortgage wire fraud. 
Funding Shield is a name to be reckoned with in the finance, banking and mortgage industry
when  it  comes  to  providing  rock-solid  cyber  security.  With  the  help  of  Funding  Shield
impeccable tools, it is easy to manage the financial risks, Funding Shied delivers API services
to  help  in  the  mortgage  and  title  fraud  prevention  which  allows  lenders,  investors,
homebuyers and title companies ensure that wired funds are going to intended recipients.
Practises that help protect your information
It is highly risky to operate a business dealing or engage in any financial or real estate 
dealings without the safety net of cyber security. Following are the best practices for both the 
warehouse lenders as well as everyone in this field to help protect your information.
1. Keep Financial Data Separate
Using a dedicated work station to perform all the financial transactions and using other 
computers to access the Internet and conduct non-banking business goes a long way in 
ensuring safety. When it is time to discard you workstation meant for financial transactions, 
be sure to back up all sensitive information and erase the hard drive.
2. Know Who’s Asking
Beware of emails and text messages that ask for personal information like account number or 
Aadhar details.  Usually banks do not ask you to verify account information in this manner.
Also avoid sharing any personal information, especially Government ID numbers, account 
numbers, or login and password information via email or text. If you do need to send 
sensitive information with your bank via email, then only use the secure mail within the 
bank’s secure online banking platform. 
3. Keep Your Passwords Secret
It pays to not share your passwords with anyone. Make sure you do not leave any documents 
containing access to financial data in an unsecured area.  Changing your passwords regularly 
and using a combination of letters, numbers and special characters in passwords also ensure 
safety. 
4. Protect Your Computer
With cybercrimes on the rise, it makes sense to install antivirus software on your computer or
network. Regularly running and updating this software to prevent viruses from infecting your 
computer is equally important. These anti-malware and anti-virus software help combat 
malicious cyber activity.
Funding Shield’s fool-proof measure ensure that the transactions are not impacted by cyber 
fraud, phishing, business email compromise, or title fraud.