Remove Email Compromise Remove Fraud Prevention Remove Irrevocability
article thumbnail

It Takes A Hub: Fighting eCommerce Fraudsters Across New Vectors

PYMNTS

Real-time payments, he said, “increase the attack surface” for fraudsters and are attractive for two reasons: speed and the fact that the payments are irrevocable. Authorized fraud also encompasses business email compromise (BEC) scams, too, said Tharle.

article thumbnail

Retail Payments Fraud: How Consumers and Banks Can Fight Back

FICO

Increasingly, the scams involve cryptocurrencies; The New York Times also recently investigating crypto romance scams in which victims are lured into paying criminals with fraudulent, and irrevocable, transfers into digital wallets. While fraud rates over ACH remain small, just four basis points (.04%), by TJ Horan.