Fintech Finance

DECEMBER 16, 2024

Preventing Authorised Push Payment (APP) scams is one of the Payment Systems Regulators (PSR) top priorities. APP scams happen when victims are tricked into sending money to fraudsters posing as legitimate payees. The PSRs data shows that in 2023 alone, APP scams cost UK consumers 341 million. of the losses (107.2

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Neopay

DECEMBER 17, 2024

A new report from PSR shows how fraudsters exploit major platforms to scam consumers. APP scams happen when victims are tricked into sending money to fraudsters posing as legitimate payees. The PSRs data shows that in 2023 alone, APP scams cost UK consumers 341 million. of the losses (107.2 million in losses.

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The Fintech Times

AUGUST 2, 2024

“Notably, while other types of APP scams are declining, romance scams are on the rise, indicating a pressing need for increased efforts to combat these crimes. “These figures clearly show these new rules cannot come soon enough and must not be delayed.

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FICO

FEBRUARY 25, 2022

Despite preventative measures such as Confirmation of Payee (COP), stories of distraught victims losing large sums to clever scammers have not gone away. The results speak for themselves; using targeted profiling of customer behavior to spot scams, 50% more scam transactions are detected.

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