Authorized Push Payment (APP) fraud remains a global concern – and an expensive one at that. In the UK alone, the cost to victims of APP fraud was £479 million in 2020, with the number of cases rising sharply by 22% from the previous year.
It’s a rise that’s been partly driven by bad actors ruthlessly taking advantage of misfortune, with scams centered around the pandemic making their debut on the global fraud stage. But additionally, the evergreen scam approaches such as social engineering are also on the rise. There’s work to be done.
And that’s the focal point of How do you solve a problem like APP? Callsign’s Ryan Gosling hosted the event, joined by speakers:
- Jamie Byles (Group Head of Fraud Risk WPB - Compliance, HSBC)
- Dianne Doodnath (Principal - Remote Payment Channels, UK Finance)
- Lloyd Emmerson (Lead Product Owner - Fraud Lab, Lloyds Bank)
They discussed key topics including:
- How is APP fraud affecting your business
- The evolution of fraudsters’ techniques during and post-Covid
- The impact of the narrowing implementation window for SCA
- The controls and products that will protect customers, today and tomorrow
- How collaboration across the industry could be the key to tackle APP fraud
APP fraud isn’t going away. This event represents a unique opportunity to take the fight back to cyber criminals.
