The Payments Association

JANUARY 21, 2025

This report provides a comprehensive analysis of the key trends defining the payments sector in 2024, highlighting the opportunities for strategic growth, as well as the challenges posed by regulatory pressures, financial crime, and evolving infrastructure demands.

Payments Trends 88

Payments Trends Financial Crimes Cross-Border Payments 88

The Fintech Times

MARCH 31, 2025

As cross-border transactions grow in Europe, the cloud-based financial crime management technology solutions provider, Nasdaq Verafin has revealed that these payment channels are opening up more passageways for fraud to take place, as $194.9billion was moved across borders in 2023; more than a quarter of the total fraud figure in 2023 ($750billion).

Cross-Border 64

Cross-Border Addressing Financial Crimes Elder Abuse 64

Finovate

MARCH 19, 2025

The integration of Sumsub’s compliance solutions will help financial institutions deal with the growing threat of fraud and financial crime. This includes a global, fourfold increase in AI-driven deepfake scams. This will enable them to onboard customers faster and comply with international KYC/AML regulations.

Fraud Prevention 96

Fraud Prevention Fraud Detection Payment APIs and Integration Verification 96

The Payments Association

JUNE 11, 2025

Additionally, the sharing of data, both internally and on a federated, industry-wide basis, will be key to winning the war on financial crime. Sustainable growth depends on interoperable risk frameworks, shared scam indicators, and coordinated responses, especially as fraudsters grow more agile and cross-border by design."

Risk 88

Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

The Payments Association

JUNE 16, 2025

APP fraud reimbursement: A six-month policy review 16 June 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The early impact of the UK’s mandatory reimbursement policy for authorised push payment (APP) scam victims, implemented in October 2024. Why is it important?

Scams 88

Scams Assessments Consumer Protection Fraud Prevention 88

The Payments Association

MAY 21, 2025

This award is a significant validation of our AI-driven fraud prevention technology and the Lynx teams dedication to closely partnering with our customers in the fight against financial crime. Financial institutions (FIs) grapple with complex, interconnected fraud and financial crime challenges. The results are clear.

Fraud Prevention 88

Fraud Prevention Fraud Detection Financial Crimes Crime 88

Finextra

JULY 7, 2025

This broad applicability in banking (from automating fraud reviews to generating customer communications) underscores how financial firms are integrating GenAI into their core workflows more aggressively than most. Indeed, 64% of finance leaders report using AI for fraud detection and risk management in their institutions.

AI 72

AI Fraud Detection Online and Mobile Banking Payment APIs and Integration 72

The Payments Association

APRIL 8, 2025

It highlights the necessity of advanced fraud detection and greater industry collaboration. Improving regulations, using technology for detection, and fostering industry-wide cooperation. As fraud continues to grow in sophistication, merchants are increasingly at the forefront of the battle against financial crime.

Fraud Detection 88

Fraud Detection Fraud Prevention Scams Participant 88

Neopay

JANUARY 22, 2025

According to a recent report by the National Crime Agency (NCA), GenAI represents one of the most substantial threats to the fraud landscape today. Fraudsters are exploiting GenAI tools such as large language models (LLMs), voice cloning, and deepfakes to carry out increasingly sophisticated scams that are harder to detect and prevent.

AI 59

AI Deepfake Phishing Audit 59

Finextra

JULY 14, 2025

Phishing and social engineering scams targeting consumers will also become more prevalent, further complicating the landscape. Errors and mismatches in exception processing are likely to rise, and the pressure to release ACH funds quickly—despite potential fraud risks—may lead to more errors and customer complaints.

ACH 52

ACH Checks Tax Refunds Risk 52

The Payments Association

DECEMBER 18, 2024

Moore discusses how the PSR is working to enhance user experience, combat financial crime through smarter data sharing, and foster collaboration across the payments ecosystem. Moore sees this as essential for tackling financial crime, enhancing efficiency, and delivering better customer outcomes.

Innovation 88

Innovation Payments Financial Crimes Regulations 88

Finextra

JUNE 15, 2025

The gambling industry’s experience with fraud detection and real-time risk assessment again becomes is valuable and available within cloud technology. This necessity has pushed cloud architecture toward true redundancy rather than theoretical compliance. Cloud also provides rapid recovery often near real time. Its a timing issue.

Technology 52

Technology Security Online and Mobile Banking Wire Transfer 52

Fintech News

FEBRUARY 21, 2024

The report by Chainalysis provides a deep dive into these changes, highlighting the decline in certain types of crypto crimes and the persistence, if not growth, of others, such as ransomware and darknet markets. However, the decrease in scamming and theft does not tell the whole story. billion (SG$ 32.51

Crime 111

Crime Ransomware Scams Romance Scams 111

Fintech Finance

NOVEMBER 20, 2024

Authorized push payment (APP) scam losses are on the rise, expected to climb to $7.6 This trust-based manipulation makes APP scams particularly challenging to detect as the transaction appears legitimate and bypasses traditional fraud detection systems and controls.

Scams 97

Scams Real Time Payments Fraud Prevention Fraud Detection 97

FICO

FEBRUARY 19, 2020

For many consumers and businesses, the ability to quickly send money directly from their bank account is a win in terms of convenience, but it isn’t without risk, when it comes to fraud and other types of financial crime. How RealTime Payments Impact Financial Crime.

Real Time Payments 92

Real Time Payments Financial Crimes Crime Account Takeovers 92

Finextra

OCTOBER 23, 2024

In a conversation ahead of Sibos 2024, Laura Quevedo, Executive Vice President of Financial Crime and Resiliency at Mastercard, highlights the growing threat of financial scams in the digital age, with cybercriminals increasingly using AI to exploit consumers.

Financial Crimes 59

Financial Crimes Crime AI Fraud Detection 59

The Fintech Times

JUNE 1, 2024

Even worse, the fraud landscape shows no signs of improving, as bad actors increasingly utilise AI to increase the damage done to financial organisations. Financial crime continues to grow, seemingly exponentially, with fraud damages expected to hit $10.5trillion annually by 2025 , a drastic rise from $3trillion in 2015.

SWIFT 124

SWIFT AI Fraud Detection Fraud Prevention 124

BioCatch

OCTOBER 16, 2024

Of all the risks that financial institutions (FIs) are managing today, none rely more on the intuition and efforts of an actual human being than that of scams. Which is why it is no wonder that banks and credit unions have resisted taking on liability for scams affecting their customers and members.

Scams 59

Scams Fraud Detection Credit Union Financial Crimes 59

Fintech Finance

NOVEMBER 5, 2024

GSMA and UK Finance have joined forces to provide a collaborative framework for the UK’s leading mobile network operators and banks to develop and launch Scam Signal, a new solution to help address Authorised Push Payment (APP) fraud in the UK. million was lost to APP fraud in the first half of 2024.

Online and Mobile Banking 98

Online and Mobile Banking Scams Fraud Detection API 98

Fintech Finance

MAY 30, 2024

Pay.UK , the independent, not-for-profit operator of the UK’s national retail payments system including Faster Payments, Bacs and Direct Debit, can today announce the results of its pioneering fraud detection and prevention pilot in collaboration with partners Visa , Synectics Solutions and Featurespace.

Fraud Detection 52

Fraud Detection Overlay Service Crime Scams 52

PYMNTS

MAY 25, 2020

Digital fraud and other forms of financial crime are also on the rise due to the uncertainty and confusion surrounding the crisis. Twenty-two percent of Americans have reported being targeted by COVID-19-related fraud, and these scams have seen more than $1.2 COVID-19-Related Fraud.

Financial Crimes 67

Financial Crimes Crime Scams Fraud Prevention 67

The Fintech Times

NOVEMBER 5, 2024

The new solution, dubbed Scam Signal, will enable banks to better identify and stop fraudulent bank transfers by analysing real-time network data and identifying correlations between phone calls and fraudulent bank transfers.

Scams 59

Scams Fraud Detection Origination Finance 59

The Payments Association

MAY 13, 2025

To many, that makes APP scams seem unsolvable. Most of these scams dont begin with a phone call; they begin long before, with reconnaissance, setup, and signals that can be detected in the session or across prior ones. APP fraud persuades, it doesnt breach In todays scams, criminals no longer force their way in.

Scams 88

Scams Fraud Detection Deepfake Phishing 88

The Payments Association

APRIL 2, 2025

How artificial intelligence is both enabling and combating payment fraud, based on insights from a recent industry webinar. With fraud accounting for a significant portion of UK crime, understanding AIs role is critical for developing effective, future-ready defences. Why is it important?

AI 88

AI Financial Crimes Deepfake Fraud Prevention 88

FICO

MAY 20, 2021

I’m very pleased to announce the release of the FICO® Falcon® Fraud Manager Retail Banking Consumer v3.0 model, which adds a Scam Detection Score to Falcon’s existing third-party fraud detection score for retail banking transfers. The Rise of Scams. APP scams are not just a major problem in the UK.

Scams 52

Scams Non-Bank Financial Crimes Crime 52

Fintech Finance

MAY 30, 2024

In a groundbreaking pilot in partnership with Pay.UK , Visa , a world leader in digital payments, has shown how leveraging the latest AI technology has the potential to drastically cut the £600m1 lost annually to account-to-account scams and fraud over recent years in the UK. In 2023, the UK saw 232,429 people falling victim to fraud.

Scams 52

Scams Faster Payments Fraud Detection AI 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. Senior Consultant, Fraud and Financial Crime. UK Posts Largest Reduction in Fraud Losses.

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. I’ve previously discussed our company’s work on an Artificial Intelligence-based scams model for FICO® Falcon® Fraud Manager and the technology behind it.

Scams 52

Scams Crime Fraud Detection Fraud Prevention 52

The Payments Association

MAY 7, 2025

As we navigate through 2025, high-risk merchants face a rapidly evolving fraud landscape. From AI-driven scams to rising chargeback rates, the challenges are growing more complex and costly. billion to chargebacks, a figure projected to rise as fraud tactics become more sophisticated. In 2024 alone, businesses lost $8.9

Risk 88

Risk Disputes Debit Card Cross-Border 88

FICO

SEPTEMBER 10, 2020

The money mule moves stolen funds to a participant in the scam via an instant funds transfer or wire transfer, and the money is often unrecoverable and untraceable. . Federal Bureau of Investigation (FBI) issued a bulletin warning that this crime is on the rise, and published a Money Mule Awareness Guide to help the public fight money mules.

Crime 52

Crime Money Laundering Online and Mobile Banking Romance Scams 52

The Payments Association

OCTOBER 14, 2024

While some argue that the reduced cap will alleviate the financial strain on smaller PSPs, others, such as fraud prevention experts, feel it weakens the push for stronger fraud detection systems within the industry. Cath stresses the need for better consumer education and warns the new process may increase scams.

Caps 88

Caps Fraud Prevention Fraud Detection Scams 88

FICO

JANUARY 5, 2021

What else made for the hottest reads in 2020 for fraud and financial crime? Here were our top 5 posts: #1: Fraud And Financial Crime Convergence. TJ Horan reported on a key takeaway from the Aite Financial Crime Forum : lenders are serious about combining their fraud and financial crime protection systems.

Financial Crimes 52

Financial Crimes Crime Posting Scams 52

The Payments Association

NOVEMBER 20, 2024

Why are AI tools especially effective at fighting fraud? The technology is gaining traction because these tools excel at fraud detection in several ways. First, AI tools have much higher throughput than manual or non-software-based detection methods. For example, say you have an AI fraud solution configured to parse text.

AI 88

AI Fraud Detection Identity Theft Account Takeovers 88

The Fintech Times

DECEMBER 28, 2023

. “Thankfully, the UK government’s new anti-fraud strategy which was published in May could offer hope here. The new strategy sets out a plan to reduce fraud by 10 per cent on 2019 levels by December 2024. It’s been designed to help to stop scams and protect the public.

Fraud Prevention 81

Fraud Prevention Scams Fraud Detection Regulatory Compliance 81

PYMNTS

MAY 22, 2020

Financial institutions (FIs) are no strangers to financial crime, with fraudsters continually targeting them and their customers for money and data. The Federal Trade Commission (FTC) has received 18,235 reports of virus-centric scams since the beginning of the year, and these incidents have resulted in more than $13.4

Fraud Prevention 74

Fraud Prevention Financial Crimes Federal Trade Commission Crime 74

The Fintech Times

JULY 3, 2024

But this approach has come under criticism, with many suggesting this setup means tech firms aren’t incentivised to crack down on APP fraud at the source. Should Labour’s plan come into effect, it could have a significant impact on the existing fraud landscape.

Scams 105

Scams Financial Crimes Due Diligence Crime 105

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. Now, I can practically send, transfer, or pay by accident by simply looking at my smartphone, which can make fraud prevention a real challenge.

Scams 52

Scams Real Time Payments Smishing Same Day ACH 52