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Fighting cross-border payments fraud requires global collaboration, UK lobby says

( November 11, 2024, 16:40 GMT | Official Statement) -- MLex Summary: Inconsistent regulations, fragmented infrastructure and data sharing limitations are impeding the ability to fight cross-border authorized push payment, or APP, fraud, the UK's Payments Association has said. In a white paper, it has urged the UK to look to the Australian model to incentivize all participants in the scam lifecycle to stop scams. AI and machine learning offer the potential for real-time transaction monitoring and intelligence data exchange between institutions, the group added.Statement below, document attached. ...

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