PSR proposes £415,000 cap on APP fraud claims
The Payment Systems Regulator (PSR) has launched two consultations in the lead up to the implementation of its new authorised push payment (APP) fraud reimbursement requirements. In June, the PSR set out its final position on tackling APP fraud, which will mean the vast majority of victims will be reimbursed within five days of the […]
Risk prevention in digital payments for e-commerce: Where to start
The e-commerce landscape is expanding at a breakneck pace, with digital and alternative payment methods emerging as the driving force behind this growth. While these payment methods offer unprecedented convenience, they also bring about a new set of challenges in terms of risk prevention. For e-commerce businesses, understanding and mitigating these risks is vital to […]
Do you specialise in Risk Prevention or Compliance Solutions? We want to hear from you!
Each month on Merchant Fraud Briefing we’re shining the spotlight on a different part of the market – and in September we’ll be focussing on Risk Prevention Solutions & Compliance Solutions. It’s all part of our ‘Recommended’ editorial feature, designed to help industry buyers find the best products and services available today. So, if you specialise in Risk […]
UK Electoral Commission data breach ‘raises questions’ about UK cyber posture
The severity of the UK Electoral Commission suffering a cyber breach has led one analyst to call the incident ‘highly disturbing’, and one that raises many questions about the cyber governance of the UK’s independent and public bodies and the technical advice they are given David Bicknell, Principal Analyst, Thematic Intelligence at GlobalData, said: “This suggests cybersecurity was […]
Digital Identity Verification: Shielding your business from fraud
As the digital realm continues to dominate business operations, safeguarding customer and company data against fraud is paramount. Employing digital identity verification can be a robust line of defence, ensuring that only genuine customers access services and perform transactions. Before integrating such a solution, here are some vital considerations… 1. Comprehensive Solution: Opt for a […]
Fraud risk trends to watch out for in 2023
Various types of fraud pose significant risks to UK businesses, including financial loss, reputational damage, legal consequences, regulatory non-compliance, and loss of customer trust. Fraudulent activities can also lead to direct monetary losses through theft, embezzlement, or fraudulent transactions. The reputation of a business can be severely affected, impacting customer perception and relationships with partners and stakeholders. Legal consequences […]
Join these great brands at the Merchant Fraud Summit
There’s a place for you to attend the Merchant Fraud Summit on the 1st November, in London. Would you like to join peers from dozens of the UK’s biggest organisations? Join us for a day (8am-5pm) of relaxed meetings with leading suppliers, a series of seminars including a session by ex-fraudster Elliot Castro, and another discussing the new Failure to Prevent Fraud […]
Demand for fraud detection solutions to drive market to $252bn
The fraud detection and prevention industry generated $29.5 billion in 2022, and is anticipated to hit 252.7 billion by 2032, equivalent to a CAGR of 24.3% over the forecast period. Analysis by Allied Market Research cites the introduction of big data analytics and cloud computing service, plus an upsurge in mobile payments, to bolster the […]
UK Finance highlights £55.5m anti-fraud success
£55.5 million of fraud was prevented in 2022 due to the Banking Protocol rapid scam response scheme, according to data released by banking industry body UK Finance. The Banking Protocol is a UK-wide scheme developed by UK Finance, National Trading Standards and local police forces. Bank and building society staff are trained to spot the […]
Alternative payments fuelling Australian e-commerce
E-commerce sales in Australia registered sustained growth over the last few years supported by availability of secure online payment tools, increasing number of online shoppers, and proliferation of online merchants and payment tools. Against this backdrop, alternative payment methods such as mobile and digital wallets are set to account for 34.1% of the payments made […]
