PYMNTS

JUNE 3, 2020

Real-time payments, he said, “increase the attack surface” for fraudsters and are attractive for two reasons: speed and the fact that the payments are irrevocable. Authorized fraud also encompasses business email compromise (BEC) scams, too, said Tharle.

Business Email Compromise 71

Business Email Compromise Email Compromise Real Time Payments Authentication 71

PYMNTS

NOVEMBER 9, 2018

As the United Kingdom moves to embrace faster payments, notes securityboulevard.com, transactions are irrevocable and so new fraud schemes may be on the rise. Travelers don’t have to use their personal cards for business expenses, and companies know exactly how their money is being spent.”. Faster Payments/Faster Fraud in the UK?

APACS 60

APACS Law Enforcement Irrevocability Credit Cards 60

PYMNTS

JANUARY 30, 2020

What’s more, these transactions are irrevocable, and as fraud losses mount, new questions surface over who holds liability to recoup funds. By definition, real-time payments give financial institutions (FIs) almost no time to analyze and authenticate a transaction to prevent fraud and other financial crimes.

Faster Payments 43

Faster Payments APACS Real Time Payments Financial Crimes 43