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Fraud in the World of Real-Time Payments

White Paper Published By: FICO EMEA
Published:  Sep 02, 2019
Type:  White Paper
Length:  35 pages

Real-time payments mean real-time fraud how will you adapt your fraud strategies?

The roll out of real-time payment schemes has bought advantages to criminals as well as to people and businesses. Those countries that have already adopted real-time payment schemes have seen a rise in fraud including authorised push payment fraud and account takeover as well as a rise in money laundering, particularly the use of mule accounts. 

This executive brief looks at the impact of real-time payments on fraud and examines the changes to fraud strategy and solutions to keep it under control including:

  • The need to assess payments for fraud in real-time.
  • How to protect customers from authorised push payment fraud.
  • The machine learning approaches that can underpin a successful fraud strategy that protects both banks and their customers.

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Tags : 
real-time payment, p2p payment