Rent-a-bank-account scam: How it works?

Financial fraudsters/cyber criminals are donning a new cap now, as regulators and law enforcers have been able to control most of their traditionally proven modes of frauds such as phishing and stealing pin numbers/passwords, among other tricks.

In what is called a rent-a-bank-account scam, the new kid in the fraudsters’ playbook, which is to allow a third party to access and use your bank account.