Deals
Blockchain Startup Spring Labs Detects $10 Million in Loan Fraud
- L.A.-based firm began looking for lien stacking this year
- Platform allows lenders to securely share sensitive data
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Spring Labs, the blockchain startup advised by Sheila Bair and Gary Cohn, has helped catch $10 million in fraud in a part of the energy loan market using its private network technology.
The Los Angeles-based firm began checking for a type of fraud known as lien stacking in July, Chief Executive Officer Adam Jiwan said in an interview.