Authorized Payment Scams: 2024 Global Outlook
Authorized payment scams are relatively new, and existing banking regulations have failed to stay current in addressing the issue. But this is changing.
As scams continue to impact banks and consumers around the world, regulators are taking notice and becoming more focused on specific scam controls for banks. In addition, some regulators are starting to mandate reimbursement for consumer scams and recognize telcos and social media platforms as part of the problem.
If 2023 was the year for news, will 2024 be the year of action?
Take a trip around the world with us to learn what has led to the “scampocalypse” we are facing today and the major developments and initiatives coming out from regulators across the globe to curb the rising tide of scams.