In 2022, Authorised Push Payment (“APP”) fraud losses were valued at €9.9 million in Ireland. In a world where digital transactions dominate and the border between convenience and vulnerability becomes increasingly blurred, the UK have introduced new legislation to reimburse victims of APP scams,...
major UK banks have participated in a voluntary code -the Contingent Reimbursement Model(CRM), designed to provide funds back to the victims ofauthorised push payment fraudor APP fraud.
The approach taken by the fraudsters is not new. They use social engineering techniques and may hack into email and other systems to set up their victims. These methods of attack are used to perpetrate a wide range of attacks; however, with authorised push payment fraud scammers can trick vi...
For example, a company might receive an invoice for a service that they never ordered or received, and the scammers request payment to be made to a fraudulent account. Investment scamsFraudulent actors promise high returns on investments and request money to be transferred to a fraudulent account...
For example, a company might receive an invoice for a service that they never ordered or received, and the scammers request payment to be made to a fraudulent account. Investment scamsFraudulent actors promise high returns on investments and request money to be transferred to a fraudulent account...
For example, a company might receive an invoice for a service that they never ordered or received, and the scammers request payment to be made to a fraudulent account. Investment scamsFraudulent actors promise high returns on investments and request money to be transferred to a fraudulent account...
The approach taken by the fraudsters is not new. They use social engineering techniques and may hack into email and other systems to set up their victims. These methods of attack are used to perpetrate a wide range of attacks; however, with authorised push payment fraud scammers can trick vi...
For example, a company might receive an invoice for a service that they never ordered or received, and the scammers request payment to be made to a fraudulent account. Investment scamsFraudulent actors promise high returns on investments and request money to be transferred to a fraudulent account...
For example, a company might receive an invoice for a service that they never ordered or received, and the scammers request payment to be made to a fraudulent account. Investment scamsFraudulent actors promise high returns on investments and request money to be transferred to a fraudulent account...
For example, a company might receive an invoice for a service that they never ordered or received, and the scammers request payment to be made to a fraudulent account. Investment scamsFraudulent actors promise high returns on investments and request money to be transferred to a fraudulent account...