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Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. [1] In many instances, bank fraud is a criminal offence.
Whether your bank refunds money lost in a scam depends on several factors: the type of scam, how you sent the funds, the bank’s policies and if you authorized the transaction. Learn more in our ...
It's no secret that fraud is on the rise between investing schemes and elaborate banking scams as criminals become more sophisticated. According to Truecaller, Americans lost almost $40 billion to ...
The Tiny Banker Trojan has been used by international tech support scam call centers as a pretext to connect to a victim's computer and make fraudulent charges. [7] Scammers will claim the victim's bank account has been hacked with the Tiny Banker Trojan and in order to secure the bank funds, the victim will be pressured to purchase gift cards ...
Check kiting or cheque kiting (see spelling differences) is a form of check fraud, involving taking advantage of the float to make use of non-existent funds in a checking or other bank account. In this way, instead of being used as a negotiable instrument , checks are misused as a form of unauthorized credit .
There was a time in the not-too-distant past when online banking was a scary prospect for a lot of people who weren’t born into a digital world.
Cross-selling, the practice underpinning the fraud, is the concept of attempting to sell multiple products to consumers. For instance, a customer with a checking account might be encouraged to take out a mortgage, or set up a credit card or online banking account. [4]
The scam may look like it's from a bank, a credit card company, a social networking site, an online payment website or app or an online store you're familiar with.