Considering fraud that occurs in real time
Real-time fraud is marked by a certain level of impatience and often requires quick thinking to pull off. Real-time fraud usually infers a kind of interaction that is performed by an entity that can perpetrate the fraud and then become inaccessible (usually by changing venue). In addition, real-time fraud normally relies on social engineering, a lack of knowledge, or some type of artifice. The following sections provide insights into real-time fraud and its detection.
Considering the types of real-time fraud
Real-time fraud, a term this book uses to indicate a kind of fraud that occurs within hours or possibly days (or sometimes even seconds), targets quick gains with little effort on the part of the fraudster. Here are a few real-time fraud types to consider:
- Email phishing: The fraudster commonly sends what appears to be a legitimate email to a user with some method of invoking fraud that antivirus or antispam software can...
