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Appendix B – Fraud Types that May Impact a Member Organisation and Its Customers.
No: 000044021528
Date(g): 11/10/2022 | Date(h): 16/3/1444
Effective from Oct 11 2022 - Oct 10 2022 To view other versions open the versions tab on the right
The following is a non-exhaustive list of fraud types that should be considered by a Member Organisation when relevant to its products.
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Social engineering (e.g., capture of customer credentials; investment scams; purchase scams; invoice scams; advance fee scams).
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Account takeover (e.g., gaining access to a customer product or device to control assets or transact).
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Impersonation (e.g., obtaining personal information to use for own benefit; assuming the identity of another to access products; impersonating a government body to obtain customer information).
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Internal fraud (e.g., misappropriation of assets; procurement fraud; theft of assets or cash; theft of intellectual property; falsification of information; unauthorised passing of information to third parties; false expense claims; abuse of authority; collusion; use of organisation assets for own gain; diversion of funds).
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Accounting fraud (e.g., concealment; false invoicing; payroll fraud; improper revenue recognition; overstatement of assets; understatement of liabilities; customer overbilling; treasury and investment fraud).
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Application fraud (e.g., failing to disclose information; falsification of information; providing false documents).
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Wholesale Payment Endpoint Security fraud.
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Banking and payment products: Credit/Debit card fraud; Online or mobile app payment fraud; Cheque fraud; ATM fraud; Mule fraud.
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Credit and lending products: Mortgage fraud; Loan fraud.
