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Facility Takeover Fraud

Facility Takeover Fraud is a Fraud that occurs when a third party, rather than going to the effort of impersonating someone and making an application (e.g. for credit, insurance or other products or services), hijacks a person’s existing accounts and plunders them (Facility Takeover Fraud is also known as Account Takeover).

Ref.: onymous_Attacker_Cifas_Special_Report_Oct_2009.pdf