Pay.UK’s Post

🧗♀️Overcoming data sharing barriers in the UK 🇬🇧 Pay.UK has joined a consortium led by consumer group Which?, to call on the Government to prioritise fraud data sharing: 🚨 prioritise fraud data sharing and break down silos across public, private and between sectors. 🧱 remove barriers to sharing data and intel, including data protection regulations and competition concerns. 📻 deliver technical solutions that can prevent fraud across all digital channels. 👀 The consortium includes major banks and telcos, and some tech companies. Interesting to see a consumer group working with industry to seek change; a focus on prevention across the digital environment, and supporting sharing some personal information to better prevent fraud. 🇦🇺 Meanwhile here are Australia's data sharing initiatives for a comparison: 1️⃣ banks sharing fraud data since 2017, via AFCX data exchange. 2️⃣ cross-sector intel sharing since 2023, via the Intel Loop (now also with the National Anti-Scam Centre & AusPost) 3️⃣ this week, announcement of banks sharing device and behaviour indicators via the BioCatch Trust. #scams #scamsprevention #fraud #appfraud #datasharing #uk #australia

The high levels of fraudulent activity that consumers are experiencing can threaten to erode their trust in payments. Learn how merchants are using technology to combat the threat of fraud and how payments networks are key allies in this fight. https://bit.ly/4ehMX6t #ConsumerTrust #Payments #Merchants #CombatFraud

It’s the last day of Nacha Smarter Faster Payments 2024. Visit us at booth 538 to chat with our team about how you can work smarter in your payments fraud detection and prevention.   #SmarterPayments #Payments2024 #Nacha

The top trends in payments ahead- fintech industry on fokus. What shares with DIGI PAY 2024 Goran Angelov, Founder and CEO, IBS Bulgaria, one of the financial and technology leaders with mission of fraud prevention and data protection? Great insights from DIGI PAY! All participant in our survey link that the panel disscussion for fraud, financial crime prevention was one of the most interesting and important sessions.

Instant payment fraud is a pressing global issue, leading to upcoming regulatory changes aimed at enhancing fund transfer security. Financial institutions are facing challenges in meeting compliance deadlines. Join industry experts in an upcoming webinar to explore preventive measures. #FraudPrevention #Compliance #FinancialInstitutions Join us on Wednesday, June 26, 2024, at 11:00 a.m. London time for an exclusive webinar. Leaders from Eastnets, iPID, LHV Bank, and Innopay will discuss strategies to combat instant payment fraud and future industry trends.

Click below to register for this upcoming webinar on 2025 fraud prevention strategies

The EU’s Instant Payments Regulation (IPR) comes into force soon, filtering the fraudsters from your screening processes could be even trickier 😱 …unless you understand how it works. To help, we’re hosting a webinar with Coop Pank AS on 3 December – to give you some screening tricks of your own! By the end of it, you’ll be able to: 🔢 Add 2 plus 2 (screening + instant payments). 🪙Tell heads from tails (segment data to screen and automate screening rules). We’ll make it easy – even if it’s not exactly easy. 😉 Join webinar by the link below ⬇️ #Screening #InstantPayments #InstantPaymentRegulation #PSPS #Fincrime #Regtech

📣 Exciting News! Lynn Dufrane is stepping into the spotlight during the Wespay Payments Expert Session to share her expertise on a critical topic -- Mitigating Check Fraud: Best Practices for Financial Institutions. 💡 In this session, Lynn will delve into: ➡️ Emerging fraud schemes and how to stay ahead of evolving threats. ➡️ Leveraging AI-driven tools and technology to detect and prevent fraud. ➡️ Implementing internal controls and enhancing education to bolster defenses. ➡️ Insights into maintaining regulatory compliance while tackling fraud head-on. Stay tuned for key takeaways from this enlightening discussion. #PaymentsSecurity #CheckFraud #Wespay #FinancialInstitutions #ExpertInsights

Join our webinar with Coop Bank A/S to get insights about Screening Instant payments!

#APPFraud scams are a troubling issue where fraudsters trick people into sending money by pretending to be someone they can trust. In 2023 alone, these scams cost #UK consumers a staggering £341 million. It's no wonder that many victims reported feeling a loss of trust, with 41% mentioning that their confidence in social media companies took a hit. To tackle this problem, new regulations are encouraging banks to step up their preventive efforts. However, the @PSR reminds us that social media, telecom, and online companies also have a vital role to play in stopping #fraud. They’re calling for collaboration with #payment firms to help close the loopholes that scammers often take advantage of. #VoP #CoP #PaymentVerification