💡Why is APP fraud slipping through the cracks of bank and PSP fraud detection solutions? 🤔 Our CEO Alan explains why in his latest blog piece, and what banks and PSPs can do to bolster APP fraud defences in advance of the fast approaching reimbursement rules October deadline.
Why is APP fraud slipping through the cracks of current fraud security systems? The "payment recipient blind spot" plays a crucial role. For banks and PSPs, screening the payment recipient is vital to preventing APP fraud. Without this verification, there's simply no way to really know if your customer is dealing with a legitimate person or a scammer. Today's fraud solutions lack this critical step, resulting in a detection gap. Lucra exists to bridge that gap. #fraudprevention #cybersecurity #paymentsafety #LucraPayments #APPFraud Read more: https://lnkd.in/ex2CSs7s