White Paper
This report compares Confirmation of Payee progress and APP fraud mitigation across EMEA, APAC and North America, and features expert commentary from AccessPay, Bottomline, Finastra and NatWest.
APP fraud losses are expected to double across EMEA, APAC and North America, and legislation mandating CoP on a national or regional basis must be established across the globe. It is estimated that APP fraud losses in the UK, India and the UK will hit $5.25 billion, with a CAGR (Compound Annual Growth Rate) of 21% across the 2022-2026 period, according to an ACI Worldwide and GlobalData report.
Action must be taken, and if regulations are not put in place, financial institutions and PSPs must ensure they are leveraging technology solutions to bolster verification mechanisms themselves. Striking the balance between protecting the end customers, adding minimal friction to processes, and assessing fraud prevention procedures will be a cumbersome, yet important, project.
This Finextra report, produced in association with LexisNexis® Risk Solutions, explores how to meet that need, and:
The state of play for APP fraud and misdirected payment fraud across EMEA, APAC, and North America;
How success stories in EMEA will set the trend for other regions;
The impact non-CoP initiation in APAC will have on international payments; and
What the future holds for technology solutions that can detect account activity in North America.
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