article thumbnail

Unveiling digital fraud: Insights into scam trends and prevention in the UK payment sector

The Payments Association

Unveiling digital fraud: Insights into scam trends and prevention in the UK payment sector January 3 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? An examination of authorised push payments (APP) scams in 2023, their impact on victims, and the platforms most exploited. Why is it important?

Scams 88
article thumbnail

Fraudsters Turn to WhatsApp: Revolut Reveals UK Consumers Lose £2,437 From WhatsApp Scams

The Fintech Times

WhatsApp prides itself on the security of its encrypted messages, however, according to new research from Revolut, the global fintech with 11 million UK customers and 50 million globally, UK consumers are losing an average of 2,437 from scams originating on the communications platform. Encryption does not equate to immunity from scams.

Scams 59
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

What You Need to Know about Singapore’s Upcoming Shared Responsibility Framework

Fintech News

The Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA) will implement the Shared Responsibility Framework (SRF) for phishing scams on 16 December 2024. The final framework includes the originally proposed duties and introduces a new fraud surveillance duty for FIs in response to public feedback.

Phishing 135
article thumbnail

Unveiling digital fraud: A deep dive into scam trends and crime prevention in the UK payment sector

The Payments Association

Unveiling digital fraud: Insights into scam trends and prevention in the UK payment sector January 3 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? An examination of authorised push payments (APP) scams in 2023, their impact on victims, and the platforms most exploited. Why is it important?

Scams 88
article thumbnail

ACI Worldwide Survey Shows Nearly 40% of Taxpayers Will Use Refunds for Debt Relief

Fintech Finance

A new income tax survey from ACI Worldwide (NASDAQ: ACIW), an original innovator in global payments technology, developed in partnership with YouGov , shows that nearly 40% of taxpayers would use their tax refund to pay debt (e.g., credit cards, loans, etc.), credit cards, loans, etc.) 20% would make minor purchases (e.g.,

article thumbnail

Unmasking the fraudsters: The UK’s Payment System Regulator lifts the lid on the origins of APP scams

BioCatch

The UK Payment Systems Regulator (PSR) recently issued a report that provides critical insights into the origin of APP scams. Meta tags: authorized push payment scams, social engineering scams

Scams 40
article thumbnail

The state of fraud in 2024: Key mid-year takeaways

The Payments Association

From shifts in unauthorised card fraud to the evolving nature of authorised push payment scams, there’s a lot to unpack—and a lot at stake. One of the most alarming trends identified in the report is the continued rise in social engineering scams, which now account for a significant portion of fraud activity. million cases recorded.

Scams 88