Wire Funding
                     FundingShield: Preventing Fraud In Financial
And Mortgage Transaction Has Never
Been Easier
Research  shows  that  in  general  an  organization  loses  a  significant  part  of  its
annual revenue each year due to fraud. Prevention and detection can go a long
way  in  reducing  this  loss.  There  ought  to  be  a  plan  in  every  organization  to
prevent fraud so that recovering your losses after a fraud is easier.
There are frauds of many forms but they mainly fall into three categories: asset
misappropriation,  corruption,  and  financial  statement  fraud.  Asset
misappropriation do not prove that costly, but they make a whopping 90% of all
fraud cases committed.
FundingShield provides protection and lays out foolproof plans for mortgage and
title  fraud  prevention.  This  allows  lenders,  investors,  homebuyers  and  title
companies  to  confirm wire  funding is  going  to  intended  recipients  and
transactions  are  free  of  impact  from  cyber  fraud,  phishing,  business  email
compromise, or title fraud.
Tips for Fraud Prevention
Every organization, be it large or small, ought to have a fraud prevention plan in
place. Studies of fraud cases reveal that fraudulent activities can last for months
before being detected.  Just  imagine the loss  your organization would suffer if
such acts go undetected for long. Luckily, you can minimize the fraud occurrences
by implementing different procedures and controls. Let’s have a look at some of
those tips:
1. Verbal Confirmation
Make sure you verbally confirm that the request to initiate the wire is from 
an authorized person within the company.
2. Verify Changes
Whenever you receive new wire instructions or a change to existing wire 
instructions, go out of your way to verbally verify with your wire transfer 
vendor.
3. Investigate Unique Requests
If you have received a request for a payment that seems suspicious or is out
of your ordinary payment arrangement, confirm by phone with your 
vendor.
4. Double Check Email Addresses
It is wise to double check your email address time and again or whenever 
you feel a suspicious transaction can be initiated. Slightly modifying the 
email address is a common trick.
5. FWD Instead of Reply
It is always best to forward the email to the address that you have on file 
instead of replying to it.
6. Be Alert
You ought to be on your guard all the time and be alert for fraud anytime 
the wire transfer instructions include tight deadlines or pressure you to act 
quickly.
FundingShield offers the best defenses against wire fraud and title insurance in
the form of rock-solid fraud prevention solutions to monitor and actively thwart
fraudulent activities effectively and diligently.