Adapting Fraud Strategy to the Era of Real-Time Payments

Adapting Fraud Strategy to the Era of Real-Time Payments

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

Executive Brief

Many countries and regions are implementing mass-market, real-time payments, including the EU, Australia and the United States. This ability to move large sums of money between bank accounts hampers the fight against financial crime, including fraud and money laundering. Some countries, such as the UK and Singapore, have had these systems for around a decade. What can fraud professionals learn from them and from the criminals who try to abuse them?