What is the difference between an unauthorised transaction and an erroneous transaction?

An unauthorised transaction refers to a payment transaction that has been initiated without your knowledge or consent. It may involve a transaction that you do not recognise or one that was not made by you.

On the other hand, an erroneous transaction refers to a payment transaction that has been made to the wrong recipient. This can occur if incorrect payment details, such as an incorrect account number, phone number, or NRIC, are entered during the transfer. It could involve a transaction initiated by you and paid to the wrong person, or a transaction initiated by someone else and paid to you.