Adapting Fraud Strategy to the Era of Real-Time Payments

What are the implications of immediate payments for fraud detection and prevention?

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Executive Brief

Many countries and regions have implemented mass-market, real-time payments, including the EU, Australia and the United States. The ability to move large sums of money between bank accounts hampers the fight against financial crime, including fraud and money laundering. But the COVID-19 pandemic accelerated adoption of real-time payments around the globe, as lockdowns and closures disrupted traditional payments methods. This acceleration has implications for fraud detection and management – so what can fraud professionals learn from real-time payments schemes and from the criminals who try to abuse them?

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