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FedNow Service Cashes Out Faster, With New Fraud Risks

Published: September 6, 2023

The Federal Reserve's new FedNow Service allows instant money transfers but may exacerbate online fraud, experts warn. The service presents unique challenges due to its irreversible and rapid transactions.

Source: ecommercetimes.com

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United StatesJustin NewellJeromeh PowellFednow ServiceFederal ReserveFederal Reserve Chair JeromeFederal Reserve SystemInform North AmericaPayments Intensify Fraud RisksNow Advantages ShadowedPersistent FraudInstant Payments