Payment Scams: How Reimbursement and Controls Drive Bank Action

organized on 25 October 2022 | 16:00 CET

Scams such as Authorised Push Payment (APP) or impersonation scams, are now a global issue and no longer confined to the English-speaking countries. Whilst banks are using a variety of mechanisms to detect these (predominantly based on behaviour) and drive down losses, it might not be enough to just consider what happens at the fraud transaction in the future. 
More and more countries are moving towards refunding impersonation scam victims, initially voluntarily such as the UK Contingent Reimbursement Model (CRM) and Dutch banking code. Legislation is now being tabled to take the refunds wider to include romance and crypto scams – which require a wider view of the scam problem, rather than just the point of transaction.

Considering scams as part of a Fraud Kill Chain is something we need to consider – whether social media and tech companies face more responsibility for the scams being pushed on their platforms, or that money mules need to be targeted more effectively by looking for their anomalies and sharing insights across banks.

This webinar looks to discuss the changing landscapes that banks operate in, and how a wider view of the scam problem must be considered to both protect customers and reduce the underlying losses from all types of scams.
  • The changing scam landscape and trends
  • Scam reimbursement for bank customers and legislation
  • Investigating the Fraud Kill Chain
  • How banks can protect their customers and reduce losses


Keywords: payments , scam, fraud detection, banks
Categories: Banking & Fintech
Companies: BioCatch
Countries: World
This article is part of category


Discover all the Company news on BioCatch and other articles related to BioCatch in The Paypers News, Reports, and insights on the payments and fintech industry: