P2P payments & fraud
P2P online and payment app fraud attacks continue to rise within financial institutions across the country. Listen as Ann Davidson of Allied Solutions sits down with Randy Salser to speak in-depth about P2P online and payment apps fraud attacks.
Key Takeaways:
- [01:34] Since 2016 P2P fraud has risen over 700%.
- [04:10] Reg E focuses on unauthorized activity. Reg E does apply to these payment apps in the unauthorized environment.
- [07:08] Look at your vendor agreement. Many vendor agreements hold the credit union ultimately responsible in the event of fraud. Vendor agreement review is ever so critical.
