There are many reasons to beware of fake social media accounts, apart from the distinctly human one of not wanting to be made a fool. Of course, it is precisely this merging of the human and the digital which makes social media so successful; and also why it is so vital to take the time to make sure that the…
Customer due diligence (CDD) is not something which should be the responsibility of the customer, even though it sounds that way. In fact, the diligence is on the part of a bank or other financial institution (FI); it’s up to them to be diligent about who they are taking on as a new account holder. This may seem like common…