Why has there been an acceleration of wire fraud?
The acceleration of wire fraud has been intense, and it is exploding right now. And the reason is because bad actors are very easily able to gain information that allows them access to peoples’ bank accounts. That’s the bottom line. There’s a lot more opportunity to pretend to be someone you’re not because we use email, texts, and all kinds of other electronic communications, whereas prior to that it was all by phone, by letter, or in person. It’s just technology has given bad actors a lot more opportunities to commit crimes.
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