FICO – social engineering and push payment fraud – who should pay?

In a previous blog I wrote about authorized push payment fraud and how social engineering leads to victims making inadvertent payments to fraudsters. I highlighted the case for banks to use behavioral analytics to identify suspicious payments before they are made. This is particularly important when an irrevocable, real-time payments scheme such as UK Faster Payments or SPayments Association CT Inst is used.

Read more here.