Faster payments is the fraudsters’ preferred method of payment as the money arrives almost immediately in the payee’s account. To receive that payment therefore, the fraudster has to open a bank account. The current dysfunctionality is each bank holds the client’s information in confidence and does not share insights on risk on that account to other banks.

https://www.finextra.com/blogposting/19989/a-rude-awakening-fraudsters-are-now-fearless