On the Backs Of Mules: An ACH Fraud Scheme

August 2009
Bank Technology News;Aug2009, Vol. 22 Issue 8, p30
Trade Publication
In this article, the author discusses a case regarding the Automated Clearing House (ACH) fraud scheme which involves a community bank in the U.S. and offers tips on how banks can avoid it. The author asserts that a customer of the bank realized a 35,000 U.S. dollars loss due to the fraud and sought to prosecute mules or regional clerks who distributed reimbursements via wire transfer. He advises banks to strengthen online account security measures and beware of retail accounts created online.


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