Attack methods using hybrid bots enable criminals to open mule accounts at scale

BioCatch cybercrime cybercriminals financial industry Fraud News report scams

During the first half of 2022, BioCatch data reveals that money mule accounts represent up to 0.3 percent of accounts held by financial institutions, and an estimated $3 billion in fraudulent financial transfers. According to the Federal Deposit Insurance Corporation (FDIC), there are 124 million U.S. households that had a member with at least one bank account, although consumers own an average of 5.3 bank accounts across all types of financial institutions. Applying BioCatch findings … More

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