Thursday, November 21, 2024
11.2 C
New York

UK Finance and GSMA Partner to Combat Fraud with New Scam Signal Initiative

  • Members of UK Finance and GSMA, including major UK mobile operators like Vodafone, EE, Virgin Media O2, and Three, are rolling out Scam Signal—a new API-driven tool designed to reduce authorized push payment (APP) fraud.
  • By leveraging real-time mobile data, Scam Signal identifies potential fraud patterns to help banks prevent scams.
  • The initiative comes amid rising APP fraud losses, which totaled £213.7 million in early 2024, with 35% linked to telecom-originated scams.
  • This effort aligns with new UK consumer protections mandating scam reimbursements for victims.

Hot this week

Banking as a Service: Meaning, Examples, Benefits and Future

The push for open banking has led to a...

What is Fintech?

Fintech: A term used to refer to innovations in...

Best fintech blogs and websites

Fintech (financial technology) has been an interesting part of...

How to buy shares online

Buying shares online in India has come a long...

Is it worth investing in life insurance over 60?

Is it worth investing in life insurance over 60? As...

Amundi Acquires Aixigo to Expand Wealth Management Technology Offerings

Strategic Acquisition: Amundi, Europe’s leading asset manager with...

Celero Commerce Acquires Precision Payments to Expand SME Payment Solutions

Acquisition Announcement: US fintech Celero Commerce has acquired...

Trust Payments Appoints Laurence Booth as New CEO to Drive Growth

Trust Payments, a leading London-based paytech company, has...

NatWest Partners with NCR Atleos to Modernize 5,500 ATMs

NatWest Group has expanded its collaboration with NCR...

Gate City Bank Partners with Alkami for Enhanced Digital Banking Solutions

Gate City Bank Embraces Alkami's Technology: North Dakota-based...

UK Government Unveils Strategy to Boost Financial Services Growth and Innovation

Driving Competitiveness in Finance: The new Labour government,...

Related Articles

Popular Categories

spot_imgspot_img