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Feds Mulling New Requirement To Thwart Online Account Fraud

Friday, June 18, 2010 - 7:07 PM
Clark Howard describes a procedure that U.S. banks may someday be required to do (just like European banks have long been doing)
Here's the scenario: Say, for example, that you never do wire transfers out of your account. Suddenly however, a wire transfer comes up for processing. In Europe, the transaction is frozen until someone at the bank can verify the wire transfer with the account's owner over the phone.

Ken TuminKen Tumin5,473 posts since
Nov 29, 2009
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