While the growth in cross-border payments, driven by globalisation, the rise of faster payment schemes, e-commerce and technological advances, brings undeniable benefits to citizens, businesses and other organisations, it also introduces significant risks.
One of the most pressing is APP fraud, also known as credit push fraud. As APP scams continue to increase globally, it is crucial to examine the vulnerabilities in international payment systems that make fraud easier to carry out, as well as raise awareness of how nefarious these scams can be, especially in the context of the use of AI for impersonation.
LSEG Risk Intelligence has recently published its white paper, which provides in-depth insights into the cross-border payments landscape, highlighting efforts by governments around the world to combat APP fraud. It details the importance of continuous fraud monitoring and proactive prevention. Finally, it explores how organisations of all types, including companies, fintechs and banks, can protect themselves and their customers by adopting innovative technologies to enhance security, build trust and support compliance with evolving regulations.
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