Learn more about Online Bank Fraud

SIM swapping is an increasingly popular account takeover fraud that has in the past year, claimed high-profile victims including Twitter CEO Jack Dorsey and may have even been the reason behind Barack Obama and Elon Musk tweeting bitcoin scams as recently as mid-July. But it’s more than just public image and reputation that is on the line for victims of this fraud.
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Individuals living in Latin America have been slower to take to mainstream banking. Culturally, there just doesn’t exist the same level of trust in banks and in digital channels to look after hard-earned money, as arguably exists throughout Europe and the USA. Instead, apart from the operations of larger businesses in the area, a large proportion of the population was used to conducting ...
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Phishing is one of the oldest types of cyberattacks that can result in online banking fraud, and remains one of the most pernicious: nearly a third of all breaches last year involved phishing, according to a 2019 Verizon Report.
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Online banking fraud is all the rage and everything seems to point to the trend continuing in coming years. It may stop being a trend and become something structural, something that banks will have to deal with from here on out, in the same way that the online shopping format has already established itself as something intrinsic in new and future commerce.
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