Onsite Coverage: Fraud Goes Cross-Channel
PHOENIX — The big, emerging trend in fraud mitigation and prevention now is taking steps to stay on top of cross-channel fraud, said speakers on a panel at the BAI Payments Connect conference.
Tim Brady, a Capital One fraud expert, explained that increasingly when crooks take over an account, they are closely examining the many banking relationships the victim has and they are seeking to suck money out of all of them. Are there lines of credit that can be tapped? A savings account that is linked to checking? “They become the customer and they are seeking to take over all those relationships,” Brady told the panel at the Phoenix gathering