Glossary of Financial Terms

H

Hard Currency

Any widely accepted currency. Eg: Euro, US Dollar, etc.

High Velocity Transactions

High Velocty Transactions are fraudulent transactions that are performed in quick succession at an ATM or directly at a financial insitution. Once a criminal skims (clones) an ATM or debit card it is common behaviour for that criminal to exhibit certain behaviours. As an example, one common technique is for the criminal to withdraw as much money as they can, from an account at an ATM, and then perform that same action just after midnight. The reason for this behaviour is due to the fact that the typical financial institution imposes a limit for how much cash can be withdrawn from an ATM on a daily basis. Typically, the "counter" is reset after midnight so the criminal could withdraw, up to the daily limit, one more time.

· See Also · Card Skimming

Home Equity

The difference between the market value of a home, and the amount owing on that property's mortgage.

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