A recent report from FundingShield has revealed a concerning trend in the mortgage industry, with 9.2% of transactions in the first quarter of the year being flagged for potential wire fraud risks. This finding underscores the ongoing challenges faced by industry professionals in safeguarding transactions against fraudulent activities.

Key takeaways from the report include:

– 9.2% of transactions were identified as having potential wire fraud risks
– The prevalence of wire fraud highlights the need for enhanced security measures within the industry
– Industry professionals must remain vigilant and proactive in identifying and addressing potential fraud risks to protect consumers and mitigate financial losses

You can read this full article at: https://www.housingwire.com/articles/nearly-half-of-loans-processed-in-q1-showed-fraud-risks-fundingshield/(subscription required)

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