
Payment Fraud: Trends, Tactics, and Detection – Session 1
AML Conversations
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Rising Threats of Payment Fraud
This chapter explores the alarming increase in payment fraud, particularly focusing on check fraud despite declining usage of checks. It discusses various fraudulent tactics including forgery, ACH fraud, and the exploitation of vulnerable populations through advanced technology and social engineering. The conversation delves into the complexities of detection and prevention efforts in the face of sophisticated fraud rings and the challenges posed by shifting banking practices.
Transcript
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