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APP Victim Check

Prevent fraudulent payments, protect your customers, and minimise reimbursement losses with our APP Victim Check product.

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Register your interest here

Protect victims from sending money to criminals

Prevent fraudulent payments, protect your customers, and minimise reimbursement losses with our APP Victim Check product. Access APP victim information shared with us by banking and payment members to make informed prevention decisions that can help you allocate effective support to the right victims.

How does APP Victim Check work?

  • A customer attempts to send a large payment to a new payee using their mobile banking app.
  • The transaction is flagged as high risk and paused while the bank investigate. They perform an APP Victim Check to see if the customer has been a victim of APP fraud before.
  • They also use Beneficiary Checks to connect with the recipient's bank to check for indicators the transaction is fraudulent. 
  • Action taken - the payment is confirmed APP fraud. The payment is stopped and the customer registered to APP Victim Check. The recipient's account is closed and they are filed to the National Fraud Database for misuse of facility. 

 

Identify More APP Fraud

Reduce APP fraud reimbursement claims
Strengthen your APP fraud prevention measures, reducing financial losses associated with reimbursing victims against the Payment Systems Regulator’s new legislation requiring banks to jointly reimburse APP fraud victims.

Identify more APP fraud
Most APP scams start online or through text messages and are getting more convincing, £239.3M was lost to APP fraud in the first half of 2023 according to UK Finance. Banks identify only a quarter of APP fraud say Visa. APP Victim Check will help to increase this through the sharing of victim information with banking members.

Safeguard customers
More consumers are falling victim to APP fraud as criminals are constantly evolving their tactics to deceive people into sending them money. Many UK consumers have multiple bank accounts and open new credit facilities to send money to criminals, so you don’t know if they’ve been victims of APP fraud with another provider. By using APP Victim Check, you will have visibility of this to protect your customers’ money and wellbeing.

Maintain your customers trust
Victims of APP Fraud can lose trust in their bank – prevent APP fraud at the point it’s happening and maintain the trust of your customers.

Who's It For?

  • Banks
  • Building Societies
  • Financial services with fast payment services

'Cases of APP fraud are one of the main sources of fraud, with reposted losses of almost
£1.2bn each year. With the PSR rule change deadline of 7th October fast approaching,
payment service providers will need to step up efforts to prevent losses and protect their
customers, as both sending and receiving banks will be liable for the cost of reimbursement.

We know that consumers are repeatedly targeted for this type of fraud, and that
consequences can be devasting. Cifas’ APP Victim Check is an essential safeguarding
measure to help protect individuals from this vicious cycle of victimisation. It should be a
welcome addition to any organisation’s fraud prevention toolkit.'

Mike Haley
CEO, Cifas

Register Your Interest?

Interested in enhancing your organisation’s fraud protection capabilities? Register your interest today to learn more about how our tailored solutions can safeguard your business against a wide range of threats. Our team will provide you with all the information you need to make an informed decision.

REGISTER NOW