ACI Fraud Management for Banking

International Fraud Awareness Week

Around the world, real-time scams are growing with real-time payments. ACI Worldwide is proud to support International Fraud Awareness Week and the goal of educating and spreading awareness of global fraud schemes and their impacts.

Download Our Latest Fraud Trend Report

The Banking Industry Needs a United Front Against Fraud

Banks Must Get Ahead of Regulatory Changes

To minimize disruption and costs, banks should demonstrate a proactive attitude to strengthening and optimizing both processes and technologies in the fight against APP scams.

Behavioral Data Is Key To Tackling Social Engineering

Behavioral data must be used to drive AI and machine learning-enabled profiling of both positive and negative transactional behavior.

Collaboration Between Both Ends of the Transaction

Banks must collaborate more closely using a network of intelligence based on the sharing of fraud signals in metadata format and in real time to drive automated decision making.

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Banks Must Dismantle Mule Account Networks

Banks must get serious about disrupting mule account networks by having appropriate KYC, monitoring money coming in and out of customers’ accounts and analyzing the behavior of those accounts.

Around the World, APP Scams Are Growing With Real-Time Payments

APP scams are on the rise — and rising rapidly. Losses are expected to record an average compound annual growth rate (CAGR) of 21% from 2021 to 2026 across the U.K., U.S., India and reach a total of $5.2 billion.

Explore the Future of APP Fraud Scam Prevention
RTP to APP Fraud

“Revenue growth from real-time payments is expected to outpace APP scam losses in our three focus markets — yet something potentially more valuable is on the line.”

Sam Murrant
Lead Analyst (Payments), GlobalData

“Without mule accounts there would be little to no APP scams. Shutting off the supply demands better collaboration and data sharing between banks.”

Cleber Martins
Head of Fraud Management for Banking, ACI Worldwide

“Better understanding of the behaviors of both fraudsters and customers is the key to making APP scams easier to spot.”

Tanya Kopytina
Senior Fraud Consultant, ACI Worldwide

APP Scam Losses Are on the Rise

The lack of regulatory protections around reimbursing customers for APP scam losses means there is also a high potential for loss of trust in real-time payment, posing a serious risk to revenue growth beyond the immediate monetary cost of fraud.

APP Fraud Scam Growth
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Loss of Trust Is Already Undermining Banks’ Revenue

The vast majority of consumers that fall victim to APP scams reported closing their account, illustrating the reputational and financial risks of APP scams to banks.

Three Simple Steps To Fight APP Scams

Technology is enabling fraudsters to scale their crimes. Learn how technology can also be used by banks and financial institutions to better protect themselves and their customers in our latest industry fraud report.

Download the Report