Inbound Payment Fraud: Detection and Mule Risk Modeling
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Complying with Central Bank of the UAE’s New Regulation
Traditionally, financial institutions have focused on stopping high-risk outbound payments. But with authorized push payment (APP) fraud, the threat has shifted: inbound payments and accounts tied to criminals and mule networks now represent significant risk.
To address this, the Central Bank of the UAE has introduced a new regulation requiring all financial institutions to strengthen authentication methods by removing weak OTP measures that are vulnerable to interception, SIM-swapping, and phishing attacks. This shift calls for banks to pay closer attention to the accounts receiving fraudulent transfers—not just the victims sending them.
Our new solution guide outlines key steps UAE banks can take to meet CBUAE’s new regulation. Read the guide for critical insights, including:
- The 3 critical customer lifecycle stages to catch money mules: account opening, ongoing account activity, and inbound payments
- How inbound payment monitoring empowers banks to remove criminal accounts, protect customers, and improve outbound fraud detection
- How a European bank used inbound payment monitoring to uncover and block a broad network of money mule accounts.
Read the guide to get started with inbound payment monitoring.