Remove Faster Payments Remove Fraud Prevention Remove Romance Scams
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Cross-Border Payments Could Further Enable APP Fraud, Says Payments Association Study

Fintech Finance

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. Criminals leverage the complexities and speed of cross-border payments to obscure transactions and evade detection, especially through UK-based accounts.

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APP Fraud, Identity Fraud and AI-Enabled Fraud Spotlighted as Main Threats Facing Fintech

The Fintech Times

Thirty-nine per cent of respondents said that in 2024, someone being tricked into buying goods that don’t exist or send a bank transfer to a fraudster impersonating someone else, otherwise known as APP fraud, would be the biggest cause for concern. More complex and financially damaging types of APP fraud include romance scams.

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APP: The Biggest Fraud Threat with AI the Solution,” Says The Payments Association Survey

Fintech Finance

Deceptively simple, APP fraud involves a person being tricked into buying goods that don’t exist or sending a bank transfer to a fraudster posing as someone trustworthy. More complex and financially damaging types of APP fraud include romance scams. Both share a multitude of similarities with APP fraud.

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