Authorised Push Payment Fraud

The UK’s fastest growing fraud trend is expected to double by 2026. Are you ready?

What is APP Fraud?

Authorised Push Payment fraud, or APP fraud, is a social engineering scam targeting users of real-time payment systems. The technique can vary, but the underlying process is the same – trick an individual or business into authorising a transfer of money to the scammer’s bank account, then disappear.

Can You Afford To Reimburse APP Fraud?

In light of the recent 39% rise in APP fraud and the decision by the PSR (Payments System Regulator) to make banks reimburse APP fraud victims, what can financial service providers do to protect themselves and their customers?

Recommendations to Tackle push payment Scams

Introduce new data sharing standards
Ensure all payment providers follow a specific set of fraud rules
Enhance your data surrounding APP fraud indicators
Provide a more tailored approach to payments
Prevent fraudsters from reaching people in the first place
Help inform your customers about APP fraud

39% Increase In 2022

APP fraud has become the number one problem for financial service providers. As fraud trends adapt, fraud strategies need to as well.

Mandatory Reimbursement

New regulation contends that the annual losses of £600 million will be placed firmly on businesses going forward.

Rates Likely To Double

By 2026 APP fraud rates are likely to be twice what they are currently, despite industry efforts.

Introducing Protect: Scam Signals

We’ve been working with leading banks and mobile network operators to create Protect: Scam Signals, this helps bolster risk signals via the mobile channel.

Scam Signals checks real-time data signals that correlate with scams, strengthening your company’s ability to identify a scam in action, saving time and money.