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April 5, 2022
On the wires
NatWest Group Partners With Bottomline to Reduce Payment Fraud
“Bottomline (NASDAQ:EPAY), a leading provider of financial technology that makes business payments simple, smart and secure, today announced the NatWest Group has adopted Bottomline’s Confirmation of Payee (CoP) solution to service their Agency Institutions in the fight against authorised push payment fraud (APP) across the UK.”
August 4, 2021
On the web
Thwarting Authorized Push Payment Fraud
“Behavioral biometrics can play an important role in mitigating the risk of authorized push payment fraud, says Reed Luhtanen, executive director at the U.S. Faster Payments Council. This biometrics technology involves, for example, “analyzing how one holds a particular device or how you are moving the mouse,” Luhtanen explains. Artificial intelligence can help analyze previous behavior patterns to determine if the right person is involved in the payment, he adds.”
June 9, 2021
On the web
Santander Pushes Back at Which? Over APP Scam Reimbursement Rates
“Santander has pushed back against calls from Which? for banks to publish figures on the proportion of customers they refund for authorised push payment (APP) fraud, arguing that looking at reimbursement rates in isolation could present a “misleading” picture. APP scams have been on the rise during the Covid-19 pandemic, with losses hitting nearly half a billion pounds in 2020.Many of the UK’s biggest banks and building societies are signed up a voluntary code, which is based on the principle that blameless victims of bank transfer scams should be reimbursed their losses.”
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