When an account is compromised by malware, fraudsters gain access to the account owner's login, password and other information needed to control the account. Ultimately, the fraudster must establish a way to extract money by transferring funds to an account he can access. Electronic funds transfer via wire transfer or e-payment applications are the vehicles of choice for moving money out of a compromised account. Using EFT Verifier ensures the account owner is alerted before a payment transfer is allowed to a new account. In less than a minute, the automated phone call repeats transaction details, such as amount of transfer and destination account, and gives the legitimate account owner the opportunity to either confirm or cancel the transaction.
