The Payments Association

JANUARY 13, 2025

They use AI to impersonate others online, mimicking voices and live videos with alarming accuracy. This manipulation fuels a surge in authorized push payment (APP) fraud, which this report confirms. Meanwhile, general impersonation scams, where fraudsters claim to represent various trusted entities, made up 10% of cases, leading to 42.8

Scams 88

Scams Romance Scams Phishing Volume 88

The Fintech Times

APRIL 11, 2024

The three biggest fraud types identified by attendees were APP fraud, identity fraud and AI-enabled fraud. More complex and financially damaging types of APP fraud include romance scams.

AI 110

AI Romance Scams FinTech Scams 110

Fintech Finance

NOVEMBER 13, 2024

Essentially, APP fraud is any type of fraud that uses an Authorised Push Payment – whenever a person is tricked into voluntarily sending a payment to another person. The industry can’t wait for regulators and common standards and must leverage AI and machine learning technologies to detect fraud.

Cross-Border Payments 98

Cross-Border Payments Cross-Border Law Enforcement Romance Scams 98

FICO

MAY 9, 2023

Home Blog Feed test How Guided AI Helps FICO Detect 59% More Scams in the UK Guided AI is akin to the nervous system in the Corpus AI Thu, 05/04/2023 - 04:33 JenniferPiccinino@fico.com by Scott Zoldi Chief Analytics Officer expand_less Back to top Tue, 05/09/2023 - 20:25 The problems we use machine learning (ML) to solve are often multi-faceted.

Scams 52

Scams AI Fraud Detection Romance Scams 52

Fintech Finance

APRIL 10, 2024

A plurality of the payments industry believe that Authorised Push Payment (APP) fraud is likely to be the biggest threat in 2024 – and that AI technology will be key in combatting it. More complex and financially damaging types of APP fraud include romance scams.

AI 40

AI Romance Scams Fraud Prevention Scams 40

PYMNTS

OCTOBER 1, 2019

In the latest Digital Fraud Tracker, PYMNTS highlights the fraud trends and patterns that regulators are closely monitoring, as well as the solutions — including artificial intelligence (AI) and machine learning (ML) — that are being deployed to shift the anti-fraud effort from def ense to offense.

Romance Scams 62

Romance Scams Scams Federal Trade Commission FTC 62

Seon

APRIL 18, 2024

A type of social engineering fraud that relies on deception to prompt voluntary payments to fraudsters, APP fraud poses an escalating threat due to the integration of cutting-edge technologies such as artificial intelligence (AI) and machine learning (ML).

Authorization 52

Authorization Technology Fraud Prevention Real Time Payments 52