Tag: APP fraud
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Research: young people to fall victim for APP fraud
Research: Young People Falling Victim to APP Fraud Introduction According to recent research conducted by cybersecurity experts, young people are increasingly becoming victims of APP fraud. As the utilization of mobile applications continues to rise among today’s youth, criminals have identified new avenues to exploit unsuspecting individuals. The research sheds light on the alarming trend…
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PSR bolsters UK consumer protection against APP fraud
The Payment Systems Regulator (PSR) in the UK has recently implemented new measures to further safeguard consumers against Authorized Push Payment (APP) fraud. PSR’s initiative aims to provide better protection to consumers from fraudulent activities during financial transactions. Authorized Push Payment fraud, often referred to as APP fraud, involves tricking individuals into authorizing…
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Regtech Salv raises EUR 3.9 mln to combat APP fraud in the UK
APP (Authorised Push Payment) fraud has been a persistent problem in the UK, causing significant financial losses for individuals and businesses. However, the fight against this type of fraud has received a significant boost with London-based regulatory technology (Regtech) company Salv successfully raising EUR 3.9 million in funding. Salv is on a mission to combat…
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Clear Junction launches Confirmation of Payee to fight APP fraud
Clear Junction, a leading provider of payment infrastructure solutions, has announced the launch of its new feature called Confirmation of Payee that aims to combat authorized push payment (APP) fraud. APP fraud, also known as bank transfer scams, has become a significant concern for individuals, businesses, and banks. In 2020 alone, losses due to APP…