Irrevocability and Multifactor Authentication

Survey: Real-time Payments Fraud Up for 4 out of 5 APAC Banks

FICO

JANUARY 22, 2020

Banks were asked which identity and authentication strategies they used, with the majority saying they used multifactor authentication (84 percent). Banks will need to move beyond passwords and OTPs and add biometrics, device telemetry and customer behavior analytics to keep up with the changing payments landscape.

Real Time Payments

Real Time Payments APACS Multifactor Authentication Account Takeovers

Fighting Scams and Authorized Push Payment Fraud in the US

FICO

NOVEMBER 7, 2022

Scammers have identified that the immediate and irrevocable nature of payments through the P2P apps means that if a consumer can be tricked in payment, they can’t claw it back. Enable multifactor authentication (MFA), avoiding text or email for one-time passcode sharing whenever possible.

Scams

Scams Authorization P2P Consumer Financial Protection Bureau (CFPB)

Payments Space

Survey: Real-time Payments Fraud Up for 4 out of 5 APAC Banks

Fighting Scams and Authorized Push Payment Fraud in the US

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