This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
11/29/2022
Why Fraudsters Are Big Fans of Real-Time Payments
PYMNTS.com
Real-time data. Online social networks. Real-time payments. For the fraudsters, it’s all a match made in heaven.
As DataVisor CEO Yinglian Xie told PYMNTS’ Karen Webster criminals are proving adept at data sharing in organized ways — and their schemes are proving more lucrative than ever.
Once fraudsters understand a payment system’s vulnerabilities and loopholes, they share it in their networks (even on social media), and coordinated large-scale attacks ensue. The bad actors can siphon away huge sums of money, cashing out before anyone can stop them.
“It’s surprising how fast things can propagate,” Xie said.
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information