Tagged: app fraud

January 4, 2024 @ 8:31 am By Omar Faridi  |  

Kathy Gormley, the AML Product Manager at Resistant AI, a start-up using machine-learning techniques to protect organizations from fraud, says that APP scams are on the rise, and financial institutions are under pressure to stem the flow of ill-gotten gains from these crimes. The Payment… Read More

November 13, 2023 @ 8:22 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) says it is working with payment service providers to do more “to protect consumers from fraud, including authorized push payment (APP) fraud.” While FCA‘s review of firms’ fraud controls and complaint handling found examples of good practice, they were… Read More

August 20, 2023 @ 4:37 pm By Omar Faridi  |  

The Payment Systems Regulator (PSR) has launched two consultations in the lead up “to the implementation of its new authorised push payment (APP) fraud reimbursement requirements. ” In June, the PSR set out its final position on “tackling APP fraud, which will mean the vast… Read More

June 14, 2022 @ 11:34 pm By Omar Faridi  |  

LHV UK, a banking services provider to more than 200 Fintech and crypto firms, is pleased to announce its Confirmation of Payee (CoP) service is currently live for all its direct clients. Introduced in July 2020, CoP is a fraud prevention system that’s led by… Read More