An Aite-Novarica Group report, sponsored by Outseer, surveyed fraud executives at major financial institutions in Brazil, Canada, India, the U.K., and the U.S. to understand the trends associated with fraud on faster payment rails.
Faster payments have emerged country by country over the past two decades in a patchwork manner, and so did fraud, using faster payments rails.
The research shows that 71% of financial institutions (FIs) indicated an increase in consumer account takeover (ATO) using real-time payment rails from 2021 to 2022, and 62% of FIs said that consumer authorized push payment (APP) fraud via real-time payment rails had increased in the same period.
Read the full study to gain in-depth insights on the latest faster payments & faster payments fraud trends.
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