Asia-Pacific Banks See Scams, Mule Accounts as Top Threats - BusinessWorld Online

Asia-Pacific banks see scams, mule accounts as top threats - BusinessWorld Online

SCAMS and money mule accounts are the top fraud concern of bank executives in the Asia-Pacific, according to a survey by global analytics software firm FICO. Seven in 10 or 69% of senior officials of financial institutions in the region said scams and mule accounts have become the “dominant threat” for the industry, according to a FICO poll, which it conducted during its Asia Pacific Fraud Forum in June and had more than 40 fraud and risk execut…

FICO Survey: 7 in 10 APAC bank leaders say scams and mule accounts are now the dominant fraud concern - Australian FinTech

A new industry poll by FICO has found that scams and mule accounts have become the dominant threat facing banks across Asia Pacific.

FICO Survey Finds Social Media and Mule Accounts Driving Scam Surge in APAC - Fintech Singapore

Scams and mule accounts have overtaken other types of fraud as the top concern for banks in Asia Pacific, according to a new poll by analytics software firm FICO. In the survey, 69% of senior banking executives said these scams were their primary worry, highlighting the growing number of cases where victims are tricked into authorising payments that are difficult to trace or reverse. Unlike traditional fraud involving unauthorised transactions t…