FICO

SEPTEMBER 10, 2020

Federal Bureau of Investigation (FBI) issued a bulletin warning that this crime is on the rise, and published a Money Mule Awareness Guide to help the public fight money mules. Consumers are taking “mobile to the max” by using their phones for mobile deposit, contactless payments and person-to-person payments.

Crime 52

Crime Money Laundering Online and Mobile Banking Romance Scams 52

FICO

FEBRUARY 24, 2022

According to the FBI , a money mule is someone who transfers or moves illegally acquired money on behalf of, or at the direction of another. What Exactly Is Money Muling? In this clip from ABS-CBN, I discuss the rise of money mules in the Philippines: Faster Payments Accelerate Problem.

Money Laundering 52

Money Laundering Financial Crimes Crime AML 52

FICO

JANUARY 10, 2023

As Debbie Cobb explained, card skimming is big business; the FBI estimates that “skimming costs financial institutions and consumers more than $1 billion each year.” It will also enable customers to be more proactive in stopping transactions the moment they realise their card has been lost or stolen. Read the full post.

Scams 52

Scams Posting Push-to-Card Compromise 52

PYMNTS

AUGUST 5, 2019

But it’s an outlier that, according to the FBI, has racked up more than $18 billion in losses last year in the U.S. Edwards told Webster the story of examining a bank partner’s mobile deposit security data and seeing that they had cleared 187 different checks, all drawn on different accounts, that had all come from the same apartment.

Checks 65

Checks Instant Payments Online and Mobile Banking Irrevocability 65