Fraud is becoming increasingly diverse and complex. In our digital age, criminals are using technology to their advantage and are adapting to the current preventions in place. What’s making it even harder is that fraud is no longer restricted to an individual and is instead occurring on a business level through commercial lending and trade finance fraud.
As more countries move towards faster payments, criminals are able transfer and exit money quicker and on a global scale. This has increased the likelihood of money moving through mule accounts, which criminals use to stay under the radar.