Electronic Funds Transfer (EFT): The electronic exchange (transfer of money from one bank account to another), either within a single financial institution or across multiple institutions, through ...

"It's important to remember that EFT fraud attempts are widespread and dynamic. So they're ever evolving," said Brian Whitley.

This electronic funds transfer (EFT) allows beneficiaries to receive payments directly into their bank accounts, eliminating the need for physical checks. The Trump administration championed this ...