Double Cashing

Brian Krebs reporting on a fraud exploiting those apps that let you deposit cheques[1] from you mobile phone:

The technology that Spero-Jack is accused of exploiting — known as mobile remote deposit capture (mRDC) — allows banking customers to deposit a check by taking a picture of it with a cellphone. The risk for financial institutions that allow mRDC is that the customer retains the paper check, and can potentially deposit it again and again at other institutions.

I’m not aware of any Australian banks offering mRDC, but if you know of any, let me know.

  1. That’s how we spell ‘checks’ here in Australia.  ↩