Bank of America, one of the world’s leading financial institutions, has launched Account Validation, a fraud prevention service for corporate and public sector clients.

The number of digital fraud attempts in the US was up 25.07% in the first four months of 2021, compared to the last four months of 2020. That’s according to a report from TransUnion, which found that when looking at specific industries, digital fraud attacks against financial services companies increased 109% in the US during that same period. Globally, fraud attempts in this industry were up 149%.

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