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FBI Warns of ‘Reverse’ Instant Payments Phishing Schemes

April 18, 2022

As part of these attacks, the cybercriminals target users of digital payment applications with fake text messages pretending to be from legitimate financial institutions, asking customers to verify they has initiated instant money transfers.

“Cybercriminals are targeting victims with a sophisticated phishing and social engineering scam which results in victims unwittingly sending funds to the actors using digital payment apps. The actors take advantage of payment apps connected to bank accounts,” according to the FBI advisory.

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