Neopay’s Post

The Payment Systems Regulator introduced a new mandate to combat #APPscams, where scammers trick individuals into making #payments for non-existent goods or services. In this expert video, ACI's Jackie Barwell discusses this new regulation and its importance in the industry. https://aciw.co/4fVgzaB

The countdown is on. With less than 30 days to go, the UK's Payment Systems Regulator (PSR) has proposed a significant reduction in the APP fraud reimbursement limit - from £415,000 to £85,000. In a new blog post, fraud expert Jonathan Frost outlines the reasons behind this last-minute update and the impact this change might have on payment service providers (PSPs) when the new rules go into effect. Read now: https://okt.to/m6KIhO #FinancialCrime #FraudPrevention #BankingIndustry

In our latest Global #CybercrimeReport, we explore how #financialinstitutions and #paymentserviceproviders are preparing for a future where assessing beneficiary risk before processing consumer transfers is no longer optional, but essential. With the surge of #APPscams and the UK’s Payment Systems Regulator (#PSR) now enforcing a 50/50 liability split between sending and receiving organisations, the threat of rising reimbursement costs has never been greater. Our report highlights the scale of this challenge. In just one month, over 30% of consumer-initiated payments at a UK digital bank were flagged as fraudulent, thanks to a robust payment defence model powered by machine learning. Read the full report for insights on managing beneficiary risk and to gain a comprehensive view of global fraud trends: ➡️https://lnkd.in/dJciCC3r #CybercrimeReport #FraudPrevention #payments #psp

The countdown is on. With less than 30 days to go, the UK's Payment Systems Regulator (PSR) has proposed a significant reduction in the APP fraud reimbursement limit - from £415,000 to £85,000. In a new blog post, fraud expert Jonathan Frost outlines the reasons behind this last-minute update and the impact this change might have on payment service providers (PSPs). Read now: https://okt.to/E2nscu #FinancialCrime #FraudPrevention #BankingIndustry

As of Today (7 October), the Payment Systems Regulator (PSR) introduced new rules to help victims of Authorised Push Payment (APP) fraud get reimbursed. In this article, we’ll break down why these changes are crucial, outline the new rules, and explore how they aim to bolster fraud detection, enhance prevention, and offer better protection for bank customers and other Payment Service Providers (PSPs). Read the article below for our insights and how to plan for what's next: https://lnkd.in/en_XqEvD 🤝Want to discuss this further? Reach out to our Tenetteam, we're here to help. #TenetArticle #FraudPrevention #FraudDetection #APPFraud

The deadline approaches. With under 30 days remaining, the UK's Payment Systems Regulator (PSR) has suggested a critical decrease in the APP fraud reimbursement threshold from £415,000 to £85,000. In a recent blog, fraud specialist Jonathan Frost discusses the rationale for this urgent adjustment and the potential implications for payment service providers (PSPs). Read now: https://okt.to/bvfyxE #FinancialCrime #FraudPrevention #BankingIndustry

The countdown is on. With less than 30 days to go, the UK's Payment Systems Regulator (PSR) has proposed a significant reduction in the APP fraud reimbursement limit - from £415,000 to £85,000. In a new blog post, fraud expert Jonathan Frost outlines the reasons behind this last-minute update and the impact this change might have on payment service providers (PSPs). Read now: https://okt.to/u7eXoF #FinancialCrime #FraudPrevention #BankingIndustry

The countdown is on. With less than 30 days to go, the UK's Payment Systems Regulator (PSR) has proposed a significant reduction in the APP fraud reimbursement limit - from £415,000 to £85,000. In a new blog post, fraud expert Jonathan Frost outlines the reasons behind this last-minute update and the impact this change might have on payment service providers (PSPs). Read now: https://okt.to/jNb9nm #FinancialCrime #FraudPrevention #BankingIndustry

Fantastic to have been part of The Payments Association’s Conference, Financial Crime 360 yesterday. Our Chief Executive, Emma Lovell spoke about the impact of the CRM Code in the fight against Authorised Push Payment (#APP) fraud. She highlighted the valuable lessons the industry can adopt to continue the momentum the Code created in protecting customers from APP fraud. #CRMCode #FraudPrevention #FinancialCrime360 #FC360

The Payment Systems Regulator (PSR) has said that preventing APP scams is not just the responsibility of the banking sector, as the UK watchdog calls on the tech, social media, and telecoms industries to take further steps to address the growing issue. https://lnkd.in/ebxVWN_E #appfraud #financialservices #payments #socialmedia #fraud