Faster Payments Fraud Trends and Mitigation Opportunities (Bulletin.01)
Faster Payments Fraud Trends and Mitigation Opportunities (Bulletin.01) examines the evolving landscape of faster payments fraud, providing insights gained from the FPC's prior work and addressing current trends and mitigation techniques. Developed by the FPC Fraud Work Group, sponsored by Verafin, this inaugural bulletin is aimed at fostering safer user experiences and bolstering confidence and trust in faster payments.
As faster payment methods gain popularity, so does the associated fraud. The bulletin sheds light on authorized push payment (APP) fraud, where an authorized party is deceived into sending a payment to a fraudster. It explores the increasing challenge of combating this fraud, emphasizing the need for education, awareness, and enhanced business workflow on both consumer and business fronts.