Knowledge Base

Misuse Of Facility Fraud

Misuse Of Facility Fraud is the misuse of an account, policy or product, where the identity/owner has not been identified as false.

Examples include paying in an altered cheque, knowingly making a payment that will bounce or allowing an account to be used to transfer criminal funds (acting as a ‘money mule’ to aid money laundering).

Ref.: Misuse of Facility Fraud

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