Discovery Bank has almost eliminated EFT fraud

[Shaun Jacobs]

Discovery Bank has almost eliminated EFT fraud

Since introducing its TRUST Alert system, Discovery Bank has slashed EFT fraud by 85%.

 

[Praemon]

A lot of EFT fraud would be reduced if they introduced something like Name Check where the account name is also validated - https://www.choose.co.uk/news/2018/bank-payments-require-recipients-name/