Tag: APP fraud
How will the new APP scam protections impact APP fraud?
A big challenge currently in the financial industry is the rise of authorised push payment fraud (APP). The Payment Systems Regulator (PSR) recently introduced new legislation on 7 October to combat this. How will this legislation impact fraud in authorised push payments?
PSR Iintroduces £85k cap for APP scam victims starting October
PSR has announced a new reimbursement cap for victims of Authorised Push Payment (APP) scams, setting the maximum limit at £85,000.
Salv’s new e-book explores why collaboration is key in the battle...
A new e-book, co-created by Salv, Thistle Initiatives, and We Fight Fraud, offers a deep dive into the mechanics of APP (Authorised Push Payment) fraud, providing readers with a view from the victim’s perspective.
Revolut’s new AI tool fights rising scam epidemic
Revolut has recently unveiled an innovative artificial intelligence (AI) tool aimed at combating authorised push payment (APP) fraud, a sophisticated scam where criminals deceive individuals into willingly transferring money into fraudulent accounts.
The rise of money mules in UK fraud: Prevention and detection
Fraud in the UK has become a significant concern, with 40% of crimes being fraudulent. Money muling is at the forefront, where fraudsters utilise synthetic or real mule accounts for financial gain. The UK government, recognizing the seriousness, plans to publish an action plan to combat this issue.
Revolut ramps up anti-fraud efforts with doubled financial crime team
Revolut, a global financial superapp serving over 35 million customers, has significantly expanded its Financial Crime (FinCrime) division, doubling the headcount since 2021.
UK FinTech sees no deals over $100m in Q3 2023, last...
Key UK FinTech investment stats in Q3 2023:
• UK FinTech deal activity reached 85 deals in Q3 2023, 43% decline compared to the same...
PSR advances fight against APP fraud with new consultations
The Payment Systems Regulator (PSR) is progressing in its fight against APP fraud by introducing two consultations.
UK’s PSR sets £415,000 maximum for APP fraud claims
The UK's PSR has unveiled plans to establish a maximum reimbursement level of £415,000 for victims of APP fraud.
Is authorised push payment fraud the biggest threat to FinTechs?
A recent whitepaper released by Resistant AI discussed why authorised push payment fraud (APP) is the greatest threat to FinTechs today.