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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