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As for the areas where scammers managed the biggest hits, business email compromise (BEC), confidence/romance fraud and spoofing were the top three types of crime in terms of monetarylosses. billion (or slightly over half) of all losses tracked in 2019.
The repercussions of such incidents extend beyond monetarylosses to one’s economic reputation and legal ramifications. Opting for online bank services or directdeposit can also reduce the likelihood of insufficient funds. Alongside the costs of returned checks, additional consequences should be considered.
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