Scammers Are Exploiting Real-Time Payments – Here’s How Banks Can Fight Back | ACI Worldwide

Fraud prevention is evolving fast, and Authorized Push Payment (APP) scams are at the center of it. In a recent discussion, Cleber Martins, a payments and fraud expert with over 24 years at ACI Worldwide, shared insights on how APP fraud is growing and what new regulations are doing to combat it.

Why APP Fraud is Spiking

Martins has been with ACI Worldwide for over two decades, and he’s seen first-hand how fraud has changed. Scams are now the fastest-growing type of fraud, and APP fraud—where criminals trick victims into sending them money—has become their go-to tactic.

Here’s why: as more countries embrace real-time payments, APP fraud is skyrocketing. It’s happening everywhere, from Europe to Latin America to Asia. The faster the payments, the easier it is for fraudsters to strike before victims—or banks—can react.

Regional Differences in APP Fraud

The Scamscope report focuses on six key markets where real-time payments are reshaping finance. But not all fraud looks the same across regions.

• Investment scams dominate in some countries, where fraudsters prey on people looking for fast returns.
• In other markets, customer churn is high, as victims lose trust in their banks after being scammed.

By studying these patterns, financial institutions can get ahead of fraud trends and strengthen their defenses before threats spread globally.

What Banks and Fintechs Can Do Next

For banks, fintech firms, and payment providers, this report isn’t just about spotting trends—it’s about taking action. Fraud prevention strategies need to evolve as fast as fraud itself. That means:

• Strengthening real-time fraud detection with AI and machine learning.
• Improving customer education to prevent scams before they happen.
• Enhancing collaboration across financial services to share fraud intelligence.

As real-time payments continue to dominate, staying one step ahead of fraudsters will be key to maintaining trust and security in digital finance.

Be sure to download the Scamscope report today to understand the trends, get the latest figures, and get tooled up.

Download (https://www.aciworldwide.com/scamscope-report-app-scam-trends?utm_campaign=gpe-2024-bnks-payi-global-scamscope&utm_medium=referral&utm_source=fintech-finance&utm_content=report)