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Complete Story
02/09/2024
Strengthening Fraud Mitigation with Evolving Online Authentication Methods
The Federal Reserve FedPayments Improvement
When consumers and businesses make payments online, they typically focus on making sure recipients receive their payments on time, so they don’t incur late fees. Fraud is likely not on their minds.
However, fraud is one constant in our payments ecosystem. Criminals are relentlessly looking for ways to take advantage of people and systems for their own benefit. Authentication practices, tools and processes are designed to prevent unauthorized users from gaining access to our accounts or devices. These approaches focus on verifying the identity of the person or entity who has the right to access the system.
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
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Resources
Your electronic library to help in fighting financial fraud for all of our partners.
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