2023 Irrevocability Romance Scams 
Seon
APRIL 18, 2024
Often, the fraudsters enter through impersonation, a romance scam or another type of social engineering fraud scam. APP fraud’s end goal is the transfer of money to an account controlled by a fraudster for something that never existed in the first place – be it goods, services or under the guise of “help.”
FICO
FEBRUARY 19, 2020
The Clearing House Association’s RTP as well as The Automated Clearing House offer same day clearing and the Federal Reserve is looking to launch instant payments with their FedNow scheme in 2023. Once a real-time payment is initiated it is typically irrevocable – it cannot simply be recalled, something that criminals take advantage of.
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