Facility Takeover

Facility Takeover is one of several CIFAS Fraud Types, where an existing customer`s facility (e.g. bank account) is hijacked by a fraudster and unauthorised transactions made, for example, money is transferred out, the address on the account changed, or new cards requested.

CIFAS members record and share information about suspected frauds between themselves to combat crime and to keep the cost of credit down for consumers.

Jargon Buster

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