Instant Payments Fraud Reaches The Tipping Point
Instant Payments Force Banks to Put Fraud Prevention at the Forefront
Executives reported a 73% increase in P2P fraud and 44% in instant or real-time payment fraud in the last 12 months, according to PYMNTS data. In this month’s “Digital Fraud Tracker®,” DataVisor CEO Yinglian Xie explains why firms must include security and automation by design as there is no margin for error in real-time transactions.
Inside the December Tracker
- Christian Santaniello, senior vice president and head of commercial deposits and treasury management at Axos Bank, details how firms can process instant payments securely
- Studies show consumers will leave merchants for good if they do not have a smooth checkout experience or if they cannot deal with fraud in a friction-free manner
- Businesses and consumers are demanding stronger customer protections against fraud and scams perpetrated using instant payments, and advanced technologies can help
