Fighting Fraud in Real-Time Payments

Fighting Faster-Payments Fraud Comes Down to Technology and Education 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.