Cybercrime: Combatting ACH and Wire Transfer Fraud Requires Customer Education

“Cybercrime: Combatting ACH and Wire Transfer Fraud Requires Customer Education” by Brian Thomas and James Mihills for Bankers Digest (June 2, 2014)

Deposit fraud attempts against American consumers and businesses approximate $15 billion annually, and a significant number of fraud attempts are initiated through ACH and wire transactions. Fraud risk is heightened with the increasing popularity of online banking, so it is critical that banks and their customers understand where vulnerabilities exist and how they can be mitigated.

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