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Callum Close, Trainee Solicitor

Callum Close dissects push-payment fraud for Finance Monthly

Posted on 19 July 2021

Associate Callum Close has contributed an article to Finance Monthly, examining push-payment fraud against corporates and arguing that banks need to invest more into anti-money laundering and fraud prevention measures.

Callum writes; "It is beyond doubt that push-payment fraud on businesses represents a very considerable economic, and crime-fighting, problem. Confidence tricks on individual account-holders tend to get more attention in the press. But similar scams perpetrated on businesses - commonly referred to as “CEO Frauds”, since they involve a scammer impersonating a high-ranking official of the victim organisation - cost billions of dollars a year, according to statistics from the Federal Bureau of Investigation."

Read the full article here.

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