The Center for Payments Market Intelligence Workgroup, in collaboration with Nacha and ICBA, conducted a 2024 Payments Fraud Survey and the results are in. The Payments Fraud Survey provides a deep dive into the current state of Payments Fraud with critical insights. Find out more information here: https://lnkd.in/eTRaWSXr #Wespay #PaymentsFraud #FraudTrends
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Have you checked out The 2024 Payments Fraud Survey Executive Summary? The Center for Payments Market Intelligence Workgroup in partnership with Nacha and ICBA, revealed key insights into the evolving landscape of payments fraud. Find out more information here: https://lnkd.in/eTRaWSXr #Wespay #PaymentsFraud #FraudTrends
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*FraudSMART recently highlighted the financial impact of fraud on Irish SMEs, with business owners losing almost €10m (€9.9m) through email-related fraud last year. SMEs need to remain vigilant against fraudsters and, with most merchants now using online platforms and systems, we've six tips to help keep your business safe from fraudsters and potential breaches. Check them out here ?? https://lnkd.in/ePqkTP3t ?? #BOIPA #Payments #Fraud #FraudPrevention #FraudSMART #BPFI *FraudSMART is a fraud awareness initiative developed by Banking & Payments Federation Ireland (BPFI).
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Payment fraud remains a persistent challenge for Accounts Payable (AP) departments, and its prevalence shows no signs of abating. This showcases the top six factors driving the increase in payment fraud. In the face of these challenges, it's crucial for businesses to adopt a smarter approach to payment processes. Corpay offers innovative solutions designed to enhance security and streamline payment workflows, helping organizations mitigate the risk of fraud while improving efficiency and accuracy. Discover the smarter way to pay and fortify your defenses against payment fraud. Visit https://www.corpay.com to learn more #corpay #PaymentFraud #FraudPrevention #SecurePayments
Why Payment Fraud is Increasing
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The European Banking Authority identified some interesting threat trends in an Opinion they published this week: ?? Instant payments feature notably higher fraud rates than traditional credit transfers ?? ?Fraudsters adapted their techniques to the previous improvements in controls, increasing social engineering click through the link to read the full Opinion: #CounterFraud #CyberThreatIntelligence
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With frauds escalating, the question of liability is becoming increasingly significant, and the landscape is shifting regarding authorized push payment frauds. Regulations drawn up by the UK’s Payment Systems Regulator that split fraud liability equally between sending and receiving banks will come into force in 2024, setting a precedent that is likely to be repeated in many jurisdictions. In Europe, the same model will be adopted under the third Payment Services Directive while elsewhere, including Australia and the US, banks are facing calls to offer consumers better protection against scams. This is likely to increase demand for systems that can detect and stop fraudulent payments before they leave the customer’s account, such as NetGuardians. Download our guide now to swiftly get informed about the regulatory changes: https://hubs.la/Q02kS8ms0 #fraudtrends #psr #fraudprevention
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FIs fail to realize is that the call center may hold the key to improving fraud prevention across the digital and mobile banking channels. Although FIs may anticipate and plan for fraud losses, they are constantly challenged with controlling operational costs to improve profitability.
PaymentsJournal on LinkedIn: 5 Ways Fraud Prevention Can Reduce Call Center Operational Costs
linkedin.com
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The UK Annual Frauds report 2024 gives a lot of insights & patterns on different types of payment frauds (authorized / unauthorized and further types within), the volumes, values and year on year trends. Definitely an interesting one for those in the Frauds space irrespective of your geography and understand the UK payment frauds trends. Annual Fraud Report 2024 : https://lnkd.in/e_4aFt3e Have captured some points below. Please do share your thoughts.... #Frauds #Pega #Payments #PegaSmartDisputes
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FIs fail to realize is that the call center may hold the key to improving fraud prevention across the digital and mobile banking channels. Although FIs may anticipate and plan for fraud losses, they are constantly challenged with controlling operational costs to improve profitability.
PaymentsJournal on LinkedIn: 5 Ways Fraud Prevention Can Reduce Call Center Operational Costs
linkedin.com
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FIs fail to realize is that the call center may hold the key to improving fraud prevention across the digital and mobile banking channels. Although FIs may anticipate and plan for fraud losses, they are constantly challenged with controlling operational costs to improve profitability.
PaymentsJournal on LinkedIn: 5 Ways Fraud Prevention Can Reduce Call Center Operational Costs
linkedin.com
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Securing your business against fraud is a top priority in the digital era. Explore effective strategies and essential tools to mitigate digital payment fraud. Stay informed, stay secure at https://paynation.us! #PayNation #B2BPayments #Paymentgprocessing #B2Bbusinessowners #AP/ARIntegrations
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