Direct Deposit Fraud is on the Rise

Payroll (Direct Deposit) Diversion Fraud is on the Rise.The Internet Crime Complaint Center (IC3), a division of the FBI released a public service announcement recently, regarding the practice of payroll diversion by cyber-criminals.

This announcement identified employees whose online self-service portal credentials were compromised, typically through a phishing attempt, and the criminal would change the direct deposit bank account of the employee to a loadable debit card in their possession. Unfortunately, once funds are sent to a debit card, the criminal can withdraw them without a trace.

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