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    ns. This revelation also confirms that offenders have most likely worked inside the concerned financial institutions and operated upon so called se
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    Electronic fund transfers is a secure and efficient system that assists electronic payments and collections. However, EFT systems and securities may contain loopholes creating possibilities for EFT frauds. Over the years, EFT frauds have resulted in losses running into the millions.

    Fraud in an EFT occurs as a result of unauthorized instruction, alteration of the amount or name of the receiver, etc. A number of electronic funds transfer frauds have involved the direct interception or modification of electronic data messages transmitted from the computers of financial institutions. This revelation also confirms that offenders have most likely worked inside the concerned financial institutions and operated upon so called sec

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    y contain loopholes creating possibilities for EFT frauds. Over the years, EFT frauds have resulted in losses running into the millions.

    Fraud in an EFT occurs as a result of unauthorized instruction, alteration of the amount or name of the receiver, etc. A number of electronic funds transfer frauds have involved the direct interception or modification of electronic data messages transmitted from the computers of financial institutions. This revelation also confirms that offenders have most likely worked inside the concerned financial institutions and operated upon so called se

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    in an EFT occurs as a result of unauthorized instruction, alteration of the amount or name of the receiver, etc. A number of electronic funds transfer frauds have involved the direct interception or modification of electronic data messages transmitted from the computers of financial institutions. This revelation also confirms that offenders have most likely worked inside the concerned financial institutions and operated upon so called se
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    sfer frauds have involved the direct interception or modification of electronic data messages transmitted from the computers of financial institutions. This revelation also confirms that offenders have most likely worked inside the concerned financial institutions and operated upon so called se
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    ns. This revelation also confirms that offenders have most likely worked inside the concerned financial institutions and operated upon so called secured systems.

    Risks of EFT frauds are enhanced if the electronic funds transfer system is dependant upon general telecommunication facilities. If the system provides authorized access to a large number of people, it automatically increases the chances of an EFT fraud. It is important to employ methods wherein unauthorized access to secure data is minimized.

    A dedicated communication network is considered to be less vulnerable to illegal access. This helps control and prevents EFT fraud. EFT frauds can take place at work by insiders and outsiders. Insiders are able to evad

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