Best Line of Payments Fraud Defense: A Harder Target
No matter where you look, fraud attacks on banks and merchants are on the rise. The fraudsters are getting more creative in their schemes, leveraging the great digital shift to make the unwitting customers themselves the gateways to fraud.
Social engineering, coerced payment and push payments fraud are among the novel approaches of the day — and are proving successful at draining accounts.
But as trio of fraud experts told PYMNTS recently, some of the most effective lines of defense lie with arming the consumers themselves, with education and technology — in effect, “hardening the target.”
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