Remove Multifactor Authentication Remove Participant Remove Transaction Limits
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Fighting Scams and Authorized Push Payment Fraud in the US

FICO

While a Senate hearing might not be on your list of must-see TV, when the topic is consumer losses from scams, and participants include the CEOs from top banks in America, I definitely tune in (or to be clear, I set the DVR since “live TV” has lost its luster unless it has teams and scores).

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Key insights in navigating fraud in open banking

The Payments Association

Strong customer authentication (SCA), frictionless user experiences, and regulatory oversight were among the focal points as experts dissected the existing risks and potential remedies for open banking fraud. Participants explored whether open bankings emphasis on frictionless journeys inadvertently facilitates fraud.