The Payments Association

JUNE 16, 2025

The early impact of the UK’s mandatory reimbursement policy for authorised push payment (APP) scam victims, implemented in October 2024. Authorised push payment (APP) scams remain one of the most devastating forms of financial fraud affecting UK consumers. Why is it important?

Scams 88

Scams Assessments Consumer Protection Fraud Prevention 88

Fintech Finance

OCTOBER 24, 2024

Ahead of Money20/20 US, Visa , a global leader in digital payments, today published the State of Scams: Fall 2024 Biannual Threats Report. The latest edition of the report brings to light several emerging threats and scams targeting banks and consumers, including a surprising resurgence of small-scale physical crime.

Scams 98

Scams Ransomware Governance Government 98

FICO

FEBRUARY 16, 2023

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. And the data from January 2023 is already trending at nearly 10x increase over 2022. One striking fact about the increase in POCs was that 75% of the total compromise sites were new in 2022 (sites that had not been compromised before).

Compromise 98

Compromise Debit Card Scams Smishing 98

The Payments Association

NOVEMBER 17, 2023

The Payment Systems Regulator (PSR) has published its inaugural APP Scams Performance Report, which presents data from the year 2022.

Scams 88

Scams Addressing Regulations Consumer 88

Fintech News

JUNE 6, 2024

In recent years, the banking sector in the Association of Southeast Asian Nations (ASEAN) has witnessed a significant surge in scams and fraud activities. DBS isn’t the only bank making news for phishing scams. US$129,841). Losses exceeded S$13 million (US$9.59 Losses exceeded S$13 million (US$9.59

Scams 109

Scams Phishing Deepfake Verification 109

FICO

DECEMBER 14, 2021

As we move forward into 2022, we are seeing the first signs of some interesting trends that will pick up pace across borders. More Vaccine-Related Scams. As such, we’ve seen a slow emergence of a black market for the sale of fake vaccine passports and it is on its way to becoming a lucrative industry in 2022.

Scams 52

Scams Data Breach Financial Crimes Breach 52

FICO

JANUARY 10, 2023

Top 5 Fraud Posts for 2022: Scams, Contactless and Money Mules. In a year that saw the word "scamdemic" coined, scams such as authorised push payment fraud were top of mind, along with various other fraud schemes. Here are the five most-viewed posts from 2022 on the FICO Blog related to fraud. FICO Admin.

Scams 52

Scams Posting Push-to-Card Compromise 52

Fintech News

FEBRUARY 15, 2024

billion in 2022, new data released by blockchain analysis firm Chainalysis reveal. Value received by illicit crypto addresses dropped significantly in 2023, driven by a decline in crypto scamming and hacking revenue by 29.2% In 2023, the value received by illicit cryptocurrency addresses amounted to US$24.2 and 54.3%, respectively.

Ransomware 119

Ransomware Crime Transactions Romance Scams 119

The Payments Association

JUNE 11, 2025

UK card fraud alone reached £396 million in 2022, with friendly fraud responsible for most chargebacks. Sustainable growth depends on interoperable risk frameworks, shared scam indicators, and coordinated responses, especially as fraudsters grow more agile and cross-border by design." billion in return-based fraud in 2022.

Risk 88

Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

The Fintech Times

AUGUST 31, 2024

Research from Chainalysis , the blockchain data company, has revealed worrying signs about the growth of crypto scams in China. Previously, the highest number of scams in new wallets was 29.9 per cent in 2022. Interestingly, while crypto scams might be on the rise, their lifetime has actually decreased.

Romance Scams 59

Romance Scams Scams Law Enforcement Crime 59

Finextra

MARCH 24, 2025

billion in 2022 and 2.0 billion in the first half of 2023businesses face increasingly sophisticated scams involving account-to-account transactions. As financial fraud reaches alarming levels across Europewith fraudulent transactions totalling 4.3

Verification 84

Verification Scams Transactions Accounts 84

The Fintech Times

MARCH 25, 2025

With financial fraud continually on the rise across Europe, businesses are facing increasingly sophisticated scams involving account-to-account transactions. Fraudulent transactions totalled 4.3billion in 2022 and 2billion in the first half of 2023 , and there is no sign that they are set to drop anytime soon.

Verification 59

Verification Cross-Border Fraud Prevention Payments 59

Fintech Finance

MARCH 20, 2024

With the use of Generative AI and other emerging technologies, scams are more convincing than ever, leading to unprecedented losses for consumers,” said Paul Fabara, Chief Risk and Client Services Officer, Visa. These investments, in addition to our ongoing education and top talent, allow us to stay ahead of scams and protect consumers.”

Scams 59

Scams Consumer Ransomware AI 59

Neopay

NOVEMBER 27, 2023

New figures released by the PSR show, for the first time, the full extent of how well banks and other payment firms performed in tackling APP scams and how they treated those who fell victim in 2022. The report focuses on Faster Payments because it is the most frequently used way that fraudsters carry out an APP scam.

Scams 52

Scams Faster Payments CRM Volume 52

FICO

SEPTEMBER 5, 2022

European Card Fraud in 2021: Winners, Losers and Scams. The United Kingdom and the Nordic region continue to lead Europe in terms of digital transformation and fraud loss reduction - but non-card scams are rising fast. Tue, 09/06/2022 - 10:00. Scams Fraud Overtaking Card Fraud. Darcy Sullivan. Tue, 11/10/2020 - 12:17.

Scams 52

Scams Credit Cards Financial Crimes Push-to-Card 52

FICO

DECEMBER 15, 2022

Our Scams Model Just Won an Award for Machine Learning. Credit & Collections Technology Awards recognize our scams model with the award for Machine Learning - here's why. Wed, 05/25/2022 - 03:43. Mon, 12/19/2022 - 11:30. Scams is a first-party crime where the payment is made by the customer, not a fraudster.

Scams 52

Scams Fraud Detection Crime Fraud Prevention 52

FICO

NOVEMBER 30, 2022

Stopping Scams with Artificial Intelligence and Machine Learning. Artificial intelligence and machine learning models can help banks stop scams, prevent losses to fraudsters and improve customer experience. Wed, 11/30/2022 - 16:30. In the UK, it accounted for £249 million in consumer losses for the first half of 2022.

Scams 52

Scams Push-to-Card Fraud Prevention CashApp 52

Finextra

JANUARY 24, 2024

The year-over-year losses from scams continue to rise. In 2022, the Federal Trade Commission (Off-site) reported $8.8 billion in losses from scam activity, a 30% increase from the previous year.

Scams 45

Scams Federal Trade Commission Fed Continuity 45

FICO

NOVEMBER 7, 2022

Fighting Scams and Authorized Push Payment Fraud in the US. Mon, 11/07/2022 - 09:50. Also known as scams or authorized user fraud, this multi-billion-dollar global fraud challenge is a real headache for consumers and banks. . Scams and P2P Payments Are Front and Center. FICO Admin. Tue, 07/02/2019 - 02:45. by TJ Horan.

Scams 52

Scams Authorization P2P Consumer Financial Protection Bureau (CFPB) 52

Neopay

NOVEMBER 27, 2023

Revolut is the most common recipient of Faster Payments made by crypto investment scam victims at Lloyds Banking Group, which is reporting a surge in get-rich-quick adverts on social media. The number of cryptocurrency investment scams reported by victims so far this year has risen by 23%, compared to the same period in 2022, notes the bank.

Scams 52

Scams Fraud Prevention Faster Payments Accounts 52

Fintech News

JANUARY 17, 2024

Sophisticated scams dominate the fraud landscape BioCatch’s report uncovers a startling surge in financial cybercrime in Asia-Pacific. With scams accounting for 54 percent of all cases, there’s a 200 percent increase in voice scams from the previous year.

Deepfake 125

Deepfake APACS Scams Authentication 125

FICO

AUGUST 3, 2022

Fraud Ideas from FICO World 2022 – and Excitement for 2023! FICO World 2022 was an excellent event with a stellar fraud protection and compliance track - here's some of what we learned. Wed, 08/03/2022 - 12:40. Tue, 07/02/2019 - 02:45. by TJ Horan. expand_less Back To Top. A Greatest Hits Compilation.

Financial Crimes 52

Financial Crimes Scams Bots Crime 52

FICO

JUNE 15, 2023

Home Blog Feed test To Stop Scams, It’s Time to Add Sensible Friction to Easy Money The convenience and speed of real-time payments makes it easy for fraudsters to scam individuals. Fraudsters love this change and have been scamming consumers and businesses at full speed with all sorts of sneaky, dirty tricks.

Scams 52

Scams Real Time Payments Smishing Same Day ACH 52

FICO

APRIL 20, 2023

S&P Global Market Intelligence reports that in the second quarter of 2022 alone, real-time payroll payments more than doubled compared to the prior quarter and accounted for nearly 15% of total RTP volume. billion in scams in 2022, a 30% increase over 2021.

Real Time Payments 52

Real Time Payments Scams RTP Payments 52

Finextra

FEBRUARY 5, 2024

The number of people falling victim to romance scams increased by a fifth (22%) in 2023, compared to 2022, according to the latest data from Lloyds Bank.

Romance Scams 45

Romance Scams Scams 45

Fintech News

APRIL 1, 2024

The rally marked the end of a prolonged so-called “ crypto winter ” which saw the value of the cryptocurrency fall by a substantial 75% between November 2021 and November 2022 to reach a two-year low of US$16,000. In 2023, losses from crypto investment scams in the US totaled US$3.94 billion in 2023, up 94% from US$567 million in 2022.

Ransomware 120

Ransomware Payments Bitcoin Scams 120

Fintech News

FEBRUARY 21, 2024

Decline in Scamming and Hacking One of the most notable trends in 2023 was the significant reduction in the volume of crypto assets associated with illicit activities, which plummeted to US$24.2 However, the decrease in scamming and theft does not tell the whole story. billion (SG$ 32.51 billion (SG$ 32.51

Crime 109

Crime Ransomware Scams Romance Scams 109

FICO

AUGUST 16, 2022

Card Skimming Fraud Grows 700+% in First Half of 2022. Tue, 08/16/2022 - 11:10. At FICO World 2022, I hosted a session where we talked about global fraud trends like authorized push payment scams and romance scams. Read about the panel discussion from FICO World 2022 that focused on other Global Fraud Trends.

Compromise 52

Compromise Romance Scams Push-to-Card ATM 52

FICO

DECEMBER 12, 2022

Reflections 2022: The Power of Patents and the People Behind Them. In 2022, FICO was granted 11 new U.S. Mon, 12/12/2022 - 16:00. As 2022 draws to a close I am reflecting on what has been a very challenging year for the world at large. 2022 marked the comeback of in-person events, in a big way! software patents.

Money Laundering 52

Money Laundering Fraud Detection AI Financial Crimes 52

The Fintech Times

AUGUST 2, 2024

In 2023, Authorised Push Payment (APP) scams totalled just shy of £341million in the UK, with new research highlighting that reimbursement varies significantly depending on who consumers bank with. In the same year, victims reported 252,626 cases of APP scams – but not all reports resulted in refunds from their banks.

Scams 64

Scams Romance Scams CRM Monetary Loss 64

Fintech News

FEBRUARY 27, 2024

Prior to this, the Japan Virtual Currency Exchange Association (JVCEA) had been implementing Travel Rule requirements on a self-regulatory basis since April 2022, in response to a directive from the Financial Services Agency (JFSA). This development followed the 2022 collapse of Terra. billion Thai Baht (approximately US$75 million).

APACS 131

APACS Regulations Stablecoins Cryptocurrency 131

FICO

FEBRUARY 9, 2023

Home Blog FICO APP Scams: What Impact Will the PSR’s Proposals in the UK Have? million stolen through fraud in the UK last year, payment scams (or authorised push payment fraud or APP scams) accounted for 41%. The vast media attention on the various types of payment scams has helped keep awareness high.

Scams 52

Scams Push-to-Card Romance Scams Regulations 52

BioCatch

MAY 29, 2024

The once peaceful country of Sweden has unfortunately seen a surge in gang violence, with the gun-murder rate in the Swedish capital roughly 30 times that of London (on a per capita basis) in 2022.

Scams 59

Scams Consumer Crime 59

Fintech News

NOVEMBER 4, 2024

Despite 78% of seniors adopting e-payments by 2022, a significant digital divide persists, particularly impacting older adults and lower-income groups. This divide poses concerns of social exclusion, economic disadvantages, and susceptibility to scams.

Digital Payments 109

Digital Payments Financial Inclusion Best Practices Payments 109

The Paypers

OCTOBER 14, 2022

The Global Anti-Scam Alliance (GASA) has launched its latest Global State of Scams 2022 Report , in collaboration with ScamAdviser , stating that scams increased by 10.2% in the past year, reaching 293 million reports.

Scams 36

Scams 36

Fintech Finance

SEPTEMBER 17, 2024

The courses – offering an introduction to banking cards and practical tips for protecting oneself against online scams – are available on the Uzum Media digital platform and consist of eight modules each. This is one of the first initiatives aimed at increasing the popularity of digital payments and fintech in the region.

Financial Literacy 98

Financial Literacy Visa Online and Mobile Banking BNPL 98

Center for Payments

NOVEMBER 21, 2023

Over 800,000 reports were received by the FBI’s Internet Crime Complaint Center (IC3) in 2022, representing $10.2 The FBI works to raise awareness of the types of scams that are common around the holidays and how you can protect yourself and your customers or members. Year after year, fraud continues to grow exponentially.

Holiday Scams 40

Holiday Scams Scams FBI Federal Trade Commission 40