New Report Highlights Global Strategies for Combating Faster Payments Fraud
The U.S. Faster Payments Council (FPC) has unveiled its latest report, International Practices in Mitigating Faster Payments Fraud, sponsored by Nasdaq Verafin. This in-depth resource provides valuable insights into how leading international markets address fraud in faster payments, offering actionable strategies for enhancing fraud mitigation in the United States.
CFPB Sues Major Banks Over Zelle Fraud, Alleging Negligence and Consumer Harm
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit against JPMorgan Chase, Bank of America, and Wells Fargo, accusing them of allowing fraud to proliferate on the peer-to-peer payments platform Zelle.
PSR Calls for Cross-Industry Collaboration to Combat APP Scams
A new report from the Payment Systems Regulator (PSR) reveals how fraudsters exploit major platforms, such as social media and online marketplaces, to scam consumers, leading to significant financial and emotional harm.
Ripple Secures NYDFS Approval for RLUSD Stablecoin Launch
Ripple has received approval from the New York Department of Financial Services (NYDFS) to launch its dollar-backed stablecoin, RLUSD.
US Investigates Multi-Asset Settlement Network Potential
The Regulated Settlement Network (RSN) proof-of-concept (PoC) demonstrated the transformative potential of shared ledger technology for upgrading multi-asset and cross-network transaction settlements in the US financial system.
Google Challenges CFPB’s Supervisory Order in Court
Google has filed a lawsuit against the US Consumer Financial Protection Bureau (CFPB) to contest its supervisory authority over Google Payment Corp.
Real-Time Payments Drive Surge in APP Scam Losses Globally
Losses from Authorized Push Payment (APP) scams are projected to reach $7.6 billion by 2028 across six major real-time payment markets, including the U.S., U.K., and Brazil, according to ACI Worldwide’s latest Scamscope report.
Mastercard launches local technology infrastructure in Saudi Arabia
Source: Mastercard
As part of its efforts to empower the digital transformation, drive economic diversification and empower innovation in Saudi Arabia, and under the patronage of The Saudi Central Bank (SAMA), the local establishment of Mastercard Gateway widens the technology company’s footprint in the region and underlines Mastercard’s commitment to contributing its expertise as a trusted technology partner and enabler of Saudi Arabia’s digital economy and future goals.
