Method to Mitigate Coerced Fraud on A2A Transfers
This work provides a framework to help combat Account-to-Account fraud on mobile devices when the account owner is coerced to initiate a transfer to an account controlled by a criminal. Existing research and anti-fraud tools do not take this scenario into account. Therefore, there is a need for a new approach. Our work shows that, when data is available, there are effective ways to score the riskiness of a transaction and help mitigate this rampant attack. Financial institutions will better protect their accountholders and the whole payments ecosystem by implementing this framework.
Authors: Andre Bordokan, Daniela Abreu, Aspen Olmsted
- Date of Conference: 6-8 December 2022
- DOI: 10.20533/ICITST.2022.0012
- ISBN: 978-1-913572-55-6
- Conference Location: Virtual (London, UK)