TechnoXander 149 PSR's latest directive against APP fraud
🔒 Protecting Against APP Fraud: The Latest from PSR 🔒

A new update is released by the Payment Systems Regulator (PSR) focused on strengthening protection against Authorised Push Payment (APP) fraud under the Faster Payments system. Interestingly, the new policy includes a reimbursement requirement for significant benefits to consumers and businesses alike. 📖 Read the full release here: PSR Release – Fighting Authorised Push Payment Fraud […]

TechnoXander 148 Confirmation of Payee (CoP) slows down APP fraud in UK
CoP solves the growing problem of APP fraud for banks in the UK

Authorised Push Payment (APP) fraud has spread like wildfire in the UK. According to UK Finance, APP fraud increased from £208 million in the initial months of 2020 to £355 million in 2021. The trend followed in the second half of 2021, with APP fraud reaching £819 million. This growth in APP scams is staggering […]

TechnoXander 147 Confirmation of Payee (CoP) combating APP fraud
‘Confirmation of Payee’, a.k.a. CoP is combating APP fraud

A drastic surge in APP (Authorised Push Payment) scams took over the world with a storm during the pandemic. The fraudsters searched for innovative ways to target people and attack their banks and financial institutions for APP fraud. Worldwide lockdown increased digital payment transactions, which worsened the situation irrespective of innumerable security steps integrated by […]