Fraud Detection Fraud Prevention Romance Scams 
The Payments Association
JANUARY 13, 2025
An examination of authorised push payments (APP) scams in 2023, their impact on victims, and the platforms most exploited. Over 340 million was lost to APP scams, affecting trust in payments and digital platforms. Smaller but equally damaging scams include romance scams, which target emotional vulnerability and trust.
The Payments Association
OCTOBER 28, 2024
It highlights the rising trends in fraud and stresses the need for payment leaders to implement stronger prevention strategies and collaborations. Payment leaders must focus on fraud prevention, collaboration with tech and telecom sectors, and public education to mitigate future risks. What’s next?
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Fintech Finance
NOVEMBER 13, 2024
Essentially, APP fraud is any type of fraud that uses an Authorised Push Payment – whenever a person is tricked into voluntarily sending a payment to another person. According to Gary Palmer, CEO and Founder of Payall, “APP fraud is a growing issue in cross-border payments.
FICO
MAY 9, 2023
Home Blog Feed test How Guided AI Helps FICO Detect 59% More Scams in the UK Guided AI is akin to the nervous system in the Corpus AI Thu, 05/04/2023 - 04:33 JenniferPiccinino@fico.com by Scott Zoldi Chief Analytics Officer expand_less Back to top Tue, 05/09/2023 - 20:25 The problems we use machine learning (ML) to solve are often multi-faceted.
FICO
APRIL 29, 2022
Increasingly, the scams involve cryptocurrencies; The New York Times also recently investigating crypto romance scams in which victims are lured into paying criminals with fraudulent, and irrevocable, transfers into digital wallets. How FICO's Fraud Detection Capabilities Can Help Your Organization Fight Retail Payments Fraud.
Seon
APRIL 18, 2024
Often, the fraudsters enter through impersonation, a romance scam or another type of social engineering fraud scam. Blackbox machine learning is efficient in churning through data to provide rapid fraud detection scores but lacks transparency in its decision-making processes.
The Fintech Times
MAY 22, 2024
In this regard, the industry has been leveraging AI and machine learning capabilities for more than a decade now and we are seeing a clear benefit to our customers in areas like payment authorisations, real-time fraud analysis, fraud detection and reducing false positives.”
Expert insights. Personalized for you.
88 
Let's personalize your content