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Historically banks provided both banking and payment services. In the early days banks held the money in a vault and pay out the money at the branch or use the telegraph network to “wire money” to the...
Over the last three months, The House of Lords, European Commission and the Payment System Regulator (PSR) published detailed reports and proposals on how to prevent instant payment fraud. It is not e...
Within a month of each other, the UK Payment Systems Regulator (PSR) issued a consultation paper on Authorised Push Payment (APP) scams with the European Commission (EU) issuing a Proposal amending re...
Who should be liable for the monies being scammed out of bank accounts using faster payments? (Authorised Push Payment Fraud: APP Fraud) v Money scammed from bank accounts 2018 to 2021: £1,840 m...
The scenario: On Facebook, a fake Airbnb website offers accommodation that includes a faster payment deposit of £1,000. It was a scam and the money gone. Airbnb noted it was fake website and says ...
Scammers are after your money in your bank account and the latest UKFinance Fraud Report 2022* generated newspaper headlines below: “Britain is £3bn fraud capital of the world: Probe reveals 40m Brito...
The observation that “The International nature of fraud is not just on the rise, rather it is endemic” sums up the Future of Fraud in a compelling and disquieting manner. There are no simple answers....
On seeing what looked like a factual internet reporting on Jeremy Clarkson on Day Time TV making money investing in a company using algorithms, a colleague and I agreed to go 50/50 on the €250 initial...
Burglaries and cheques have since 2019 declined 36% and 47% respectively. Since 2019, Faster Payments and APP Fraud have increased by 34% and 73% respectively. These trends show that APP Fraud scams...