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How Fraud Changes in the World of Real-Time Payments

FICO

The new real-time payment schemes, whether used directly or as the rails for e-wallets and person-to-person payments, are cleared instantly and are irrevocable. They use social engineering and interception of correspondence to do so. Authorised Push Payment Fraud at the Point of Transaction.

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ACH vs. Wire Transfers: Which Is Right for You?

Nanonets

Once a wire transfer has cleared, it becomes irrevocable, with a few exceptions. A well-established network of correspondent banks facilitates cross-border and cross-currency transfers with typically only one or two intermediaries involved. Wire transfers, on the other hand, enjoy extensive global acceptance.

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Rewiring the cross-border payments paradigm: Risk and security in correspondent banking confirmation

The Payments Association

Rewiring the cross-border payments paradigm: Risk and security in correspondent banking confirmation May 12 2025 by Payments Intelligence LinkedIn Email X WhatsApp Whats the article about? Yet much of the system still hinges on a half-century-old correspondent banking model and a fragmented regulatory landscape. Why is it important?