While money mule accounts don’t generate direct losses for banks, they can still have negative impacts, including maintenance costs and regulatory scrutiny. Banks should take advantage of advanced analytics and diverse data (including dark web intelligence) to help protect themselves. Money mules – people who receive and move money stolen from fraud victims – are […]
Tag: scams
Authorized push payment scams – where victims are tricked into sending money to criminals under false pretenses but of their own accord – are a growing problem. Banks are testing biometric technology to help flag unusual customer behavior. A new report from the Global Anti-Scam Alliance found that scams increased by 10.2% globally in the […]