DataVisor - Digital Fraud Tracker: Instant Payments Fraud Reaches The Tipping Point - December 2022 - Explore the importance of recognizing instant payments fraud and fighting it head-on, as well as what banks and companies can do to protect their clients

Instant Payments Force Banks to Put Fraud Prevention at the Forefront

Instant Payments Fraud Reaches The Tipping Point

Executives reported a 73% increase in P2P fraud and 44% in instant or real-time payment fraud in the last 12 months, according to PYMNTS data. In this month’s “Digital Fraud Tracker®,” DataVisor CEO Yinglian Xie explains why firms must include security and automation by design as there is no margin for error in real-time transactions.

Inside the December Tracker

  • Christian Santaniello, senior vice president and head of commercial deposits and treasury management at Axos Bank, details how firms can process instant payments securely
  • Studies show consumers will leave merchants for good if they do not have a smooth checkout experience or if they cannot deal with fraud in a friction-free manner
  • Businesses and consumers are demanding stronger customer protections against fraud and scams perpetrated using instant payments, and advanced technologies can help

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