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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.

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Ken TuminKen Tumin5,473 posts since
Nov 29, 2009
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