Cover for the PYMNTS and The Clearing House April/May 2023 "Real-Time Payments Tracker: Fighting Fraud in Real-Time Payments"

Fighting Faster-Payments Fraud Comes Down to Technology and Education

Fighting Fraud in Real-Time Payments

Faster payments have brought significant benefits for consumers, but they also bring the risk of push payment fraud, something that Lee Kyriacou, vice president of real-time payments at The Clearing House, says requires a mix of technology, consumer education and security best practices. Read more in the “Real-Time Payments Tracker®,” a collaboration with The Clearing House.

Inside the April/May Tracker

  • Lee Kyriacou, vice president of real-time payments at The Clearing House, discusses how a mix of technology, consumer education and security best practices can effectively fight push payment fraud.
  • The number of attempted fraud transactions skyrocketed by 92% between 2021 and 2022, with attempted fraud dollar amounts spiking by a massive 142%.
  • PYMNTS examines the economic and reputational harm fraud can wreak on P2P applications and how technological solutions can keep fraud to a minimum.

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