1、Strategies to manage authorised push payment fraudFebruary 2025KPMG Global Banking Scam SurveyKPMG.com.auForewordAuthorised push payment(APP)scams are global,transcend borders and affect all jurisdictions.The interconnected global economy and the ease with which information and money can be transfer

2、red across borders means one instance of an APP fraud can affect multiple financial institutions across multiple countries.Global scam losses are estimated in the billions each year.APP scammers trick victims into making payments to accounts that belong to fraudsters.These scams often involve frauds

3、ters impersonating a trusted entity,such as a bank,service provider or government agency,and using false pretences to convince the victim to authorise payments.The victim is led to believe theyre making a legitimate transaction,when in fact they are sending money directly to fraudsters.Banks and fin

4、ancial institutions are often seen as the gatekeepers for consumer funds within the complex global ecosystem.In the context of APP scams,this ecosystem includes governments,regulators,telecommunications companies,technology and social media companies,cryptocurrency exchanges,law enforcement and cons

5、umers themselves.KPMGs Global Banking APP Scam Survey encompasses the views of 48 banks in 16 countries and 5 continents to identify trends and best practices that enable these institutions to protect consumers.The survey data was collected through interviews with professionals in fraud and scam pre

6、vention.We sought to obtain a variety of views that include large multinationals,digital neobanks and mutuals/building societies.We hope the insights provided in this survey will encourage organisations in all sectors to reassess their scam prevention strategies and consider how they can enhance the