What are Authorized Push Payment (APP) frauds?

APP fraud happens when people are duped into making payments to fraudsters, believing they are undertaking genuine transactions. It relies on the fraudster's ability to manipulate confidence and create urgency through advanced social engineering techniques.

Impersonation scam is where the fraudsters impersonate trusted entities to manipulate victims into transferring funds under false premise to acquire their account information, assets, etc.

Key strategies to combat APP fraud includes:

Using advanced fraud detection system to detect malicious fraud attempts.

Educating customers on recognizing the potential scams and protecting themselves.

Implementing transaction monitoring to identify risky activities on a real-time basis.

Account takeover fraud is a forerunner to APP fraud. With ATO prevention solution, it is possible to prevent bad actors from fraudulent activities.

Impose additional transaction checks with time delays for high-value or unusual transactions.

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