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Zelle: The Role Of AI In Stopping COVID-Related P2P Payment Scams

PYMNTS

Fighting these threats requires an equally wide range of defenses, says Jamie Armistead, Zelle vice president. Peer-to-peer (P2P) payment apps like CashApp , PayPal , Venmo and Zelle are especially popular targets for financial crime, with fraud attacks against these apps increasing by 733 percent since 2016.

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How Zelle Protects Users Against Scams And Frauds With AI, Analytics

PYMNTS

It is no wonder that payment apps like CashApp , Venmo and Zelle are used by more than 70 percent of Americans. Armistead recently offered PYMNTS an inside look into the different techniques that fraudsters leverage as well as the initiatives Zelle undertakes to protect itself and its users. Leveraging AI To Fight Cybercrime.

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Stopping Scams with Artificial Intelligence and Machine Learning

FICO

By convincing individuals to send money through apps like Venmo, CashApp, Zelle and others, or adding a payee for traditional ACH transactions, fraudsters are perpetuating what is known in the financial industry as Authorized Push Payment (APP) fraud (in the UK) or authorized user fraud (in the US).

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