View all posts
Be Aware of a New Type of Fraud: Triangulation Fraud
12/05/2023
A relatively new type of fraud that targets online shoppers, triangulation fraud involves malicious actors using fake retail sites to harvest online shoppers' payments information. The fraudsters use legitimate merchants to complete the orders so shoppers don't know their payments information was compromised, requiring financial institutions to manage disputes and reissue cards.
The Independent Community Bankers Association (ICBA) helped Financial Services Information Sharing and Analysis Center (FS-ISAC) develop a white paper, which details the impact of the fraud scheme and provides steps to help raise awareness of this online shopping threat.
Access the white paper here.