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Strengthening the core: What is next in banking to combat fraud?

Author

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  • Van Rijn, Mats

    (Adyen Madrid, Spain)

Abstract

This paper examines how fraudsters misuse the banking infrastructure to their benefit, particularly through methods like authorised push payment fraud and the exploitation of the direct debit infrastructure. Banks, payment service providers/merchant acquirers, scheme owners and clearinghouses each have a role to play as critical players in combating this type of fraud, but too little has been done so far. To tackle this growing threat, the paper outlines actionable changes, ranging from enhanced regulatory frameworks to tailored merchant strategies. These changes can be made by each player to address and reduce the gaps in the banking infrastructure and the relevant payment types going forward, providing a roadmap for a more secure payments ecosystem.

Suggested Citation

  • Van Rijn, Mats, 2025. "Strengthening the core: What is next in banking to combat fraud?," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 19(1), pages 42-53, March.
    • Handle: RePEc:aza:jpss00:y:2025:v:19:i:1:p:42-53
    as

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    More about this item

    Keywords

    payments; bank transfers; direct debit; authorised push payments (APP); fraud; merchant; banking rails; anti-fraud strategies; payment fraud frameworks;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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